SolarEdge price target lowered to $180 from $210 at Truist

Truist lowered the firm’s price target on SolarEdge to $180 from $210 but keeps a Buy rating on the shares as part of a broader research note on Solar and Energy Storage ahead of the sector’s Q3 results. The sector remains in a phase of valuation rationalization under which balance sheet strength and steady profitability will play an increasingly important role in equity performance, the analyst tells investors in a research note. While the firm sees potential for a prolonged recovery in U.S. residential solar however, SolarEdge’s recent challenges in Europe are more likely to be resolved in coming quarters with the company’s C&I segment providing additional downside protection, the firm added.