SolarEdge price target lowered to $15 from $20 at Truist

Truist lowered the firm’s price target on SolarEdge (SEDG) to $15 from $20 and keeps a Hold rating on the shares. The company’s Q4 guide came in below the Street, but given prior commentary by peer Enphase (ENPH) on the weakness in the European market, this didn’t likely take many by surprise, the analyst tells investors in a research note. If SolarEdge can execute on its stated objectives, stabilize cash flows via inventory reductions, and refocus on core solar/storage businesses, the company could enter the second half of FY25 in a much improved position, Truist added.