RBC Capital lowered the firm’s price target on SolarEdge to $77 from $85 and keeps a Sector Perform rating on the shares after its Q4 results and below-consensus guidance. Destocking and cadence of demand recovery are taking longer than previously expected and margins are being pressured lower as a result of the company’s higher fixed cost structure, the analyst tells investors in a research note. Shares will continue to trade at trough levels until more firm signals of a demand recovery emerge and provide greater visibility for a margin recovery, RBC added.
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