SolarEdge price target lowered to $340 from $400 at Truist

Truist lowered the firm’s price target on SolarEdge to $340 from $400 but keeps a Buy rating on the shares. The firm states that while the U.S. residential headwinds have been talked to extensively by peer suppliers and installers, Truist had not anticipated the coinciding impact of a European residential inventory de-stocking. The firm maintains its view on SolarEdge as an attractive long-term play on global residential and commercial solar + storage name with significant upside.