SolarEdge price target lowered to $74 from $77 at RBC Capital

RBC Capital analyst Christopher Dendrinos lowered the firm’s price target on SolarEdge to $74 from $77 and keeps a Sector Perform rating on the shares as part of a broader research note previewing Q1 earnings in Clean Energy. The firm sees continued weakness in clean energy from ongoing financial performance challenges and sluggish adoption of clean alternative technologies, RBC states. Solar stocks also continue to lag the broader market due to ongoing demand weakness in residential solar, over supplied market conditions for panel manufacturers, and high interest rates, the analyst tells investors in a research note.