SolarEdge price target lowered to $320 from $396 at BofA

BofA lowered the firm’s price target on SolarEdge to $320 from $396 and keeps a Buy rating on the shares. A headline guidance miss “means some of the luster is lost” in SolarEdge’s growth story, but its headline challenges are different than peers as guided revenue compression in Q3 is largely a function of an EU, as opposed to a U.S., inventory glut, the analyst tells investors. While the EU glut will get worked off, “we frankly can’t say the same for the US today,” the analyst added.