SolarEdge price target lowered to $14.50 from $27 at Canaccord

Canaccord lowered the firm’s price target on SolarEdge (SEDG) to $14.50 from $27 and keeps a Hold rating on the shares. The firm noted they completed a strategic review and will take a $1B impairment charge and management recognized the fact that market dynamics have changed further and that they see the coming year as a continued transition period to refocus on the core solar business and recapture ceded market share.