Goldman Sachs lowered the firm’s price target on SolarEdge to $25 from $49 and keeps a Sell rating on the shares. The firm is updating its model to incorporate the issuance of $300M in new convertible notes as well as the management’s guidance for Q2 free cash burn of about $150M, the analyst tells investors in a research note. Goldman Sachs is now estimating 2024 / 2025 / 2026 free cash flow for SolarEdge of (522M) / $455M / $51M versus its prior forecast of $173M / $273M / $161M.
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