SolarEdge price target raised to $24 from $19 at JPMorgan

JPMorgan analyst Mark Strouse raised the firm’s price target on SolarEdge (SEDG) to $24 from $19 and keeps an Overweight rating on the shares. The company reported “mixed” Q4 results but its “strong” free cash flow should improve the “weak” investor sentiment, the analyst tells investors in a research note. The firm attributes the weaker than expected earnings to write-downs and impairment charges, and points out SolarEdge’s Q1 margin guidance beat expectations. JPMorgan cites its increased earnings estimates and SolarEdge’s improved free cash flow helping investor sentiment for the target increase.