Canaccord analyst Austin Moeller lowered the firm’s price target on SolarEdge to $38 from $58 and keeps a Hold rating on the shares. The firm noted SolarEdge Technologies (SEDG) announced that its customer, PM&M Electric, Inc., recently filed for Chapter 7 bankruptcy. In conjunction with the news on PM&M, SolarEdge announced its intention to raise an additional $300M in capital in the form of Convertible Senior Notes due in 2029, through a private offering.
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