SolarEdge price target raised to $89 from $77 at Citi

Citi raised the firm’s price target on SolarEdge to $89 from $77 and keeps a Neutral rating on the shares after meeting with management. The analyst walked away more confident in SolarEdge’s demand recovery and potential for upside in both the guided revenue and margin ranges. Inventory normalization is expected to take 2-3 quarters, though Citi’s read of data indicates downside risk, the analyst tells investors in a research note.