SolarEdge price target raised to $383 from $379 at Oppenheimer

Oppenheimer analyst Colin Rusch raised the firm’s price target on SolarEdge to $383 from $379 and keeps an Outperform rating on the shares as underlying fundamentals continue to appear too strong. While the company posted strong results and guidance and pointed to ongoing supply constraints, the firm believes investors may be underwhelmed with margin guidance given strong EUR versus USD and commentary around potential mixed U.S. demand. That said, Q1 guidance points to 42% annual revenue growth at midpoint and SolarEdge continues to diversify its product offerings and geographic exposure while executing well on multiple initiatives to grow and optimize the business, Oppenheimer adds.