BMO Capital analyst Christopher Souther lowered the firm’s price target on SolarEdge to $80 from $85 and keeps a Market Perform rating on the shares. The company’s “weak” Q1 guidance for revenue and gross margins was “materially worse” than expected, and it’s unclear if some of this is structural, the analyst tells investors in a research note. The firm also notes that cash burn resumed for the company after a prior earnings call had suggested under-shipping would result in free cash flow generation.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on SEDG:
- SolarEdge (NASDAQ:SEDG) Plunges after Weak Q1 Guidance
- Options Volatility and Implied Earnings Moves Today, February 20, 2024
- Airbnb downgraded, Citi upgraded: Wall Street’s top analyst calls
- SolarEdge receives UL1741-SB certification for SolarEdge 330kW Inverter
- SolarEdge initiated with a Sector Perform at RBC Capital