SolarEdge price target raised to $61 from $50 at Barclays

Barclays raised the firm’s price target on SolarEdge Technologies (SEDG) to $61 from $50 and keeps an Underweight rating on the shares. The company may have a better Q2 outlook than Enphase Energy (ENPH) with Europe de-stocking at a faster pace than the U.S., but its fixed costs will continue to weigh on margins, the analyst tells investors in a research note. The firm says Tesla’s (TSLA) Powerwall 3 has recently rolled out and will likely be a threat to both companies, but will take more share from SolarEdge than Enphase. SolarEdge is trying to keep as much market share as it can in the U.S., but at the expense of margin, notes Barclays.