SolarEdge price target raised to $374 from $367 at Wells Fargo

Wells Fargo analyst Michael Blum raised the firm’s price target on SolarEdge to $374 from $367 and keeps an Overweight rating on the shares after Q4 results and Q1 guidance beat expectations. Europe strength is expected to offset U.S. weakness, the firm notes, adding that battery shipments are supply-constrained in the near-term.