Citi lowered the firm’s price target on SolarEdge to $83 from $89 and keeps a Neutral rating on the shares. The firm anticipated a “rough” Q4 and a challenging outlook for SolarEdge but says the company underperformed its expectations and some of the lowest buy-side estimates. The company has little visibility into end-product demand and inventory normalization will take longer, the analyst tells investors in a research note. Citi says skepticism about the magnitude of a recovery in the second half of 2024 persist.
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