SolarEdge price target lowered to $33.46 from $35.55 at GLJ Research

GLJ Research lowered the firm’s price target on SolarEdge to $33.46 from $35.55 and keeps a Sell rating on the shares. The analyst believes SolarEdge “is about to slip into a period defined by several quarters of losses.” Due due to lackluster demand, the company is guiding its battery prices lower due to both broad-based industry oversupply and intense competition, the analyst tells investors in a research note. The firm believes consensus estimates for 2024 and 2025 “will likely prove aspirational.”