SolarEdge price target lowered to $274 from $359 at Barclays

Barclays lowered the firm’s price target on SolarEdge to $274 from $359 and keeps an Overweight rating on the shares. The company issued weaker than expected Q3 guidance, driven by a soft optimizer/inverter ratio and weakness in battery shipments, the analyst tells investors in a research note. The firm says channel inventory needs to be worked down on the residential side while commercial demand continues to be robust, although SolarEdge’s margins are temporarily impacted by soft optimizer shipments.