Morgan Stanley raised the firm’s price target on SolarEdge (SEDG) to $11 from $9 and keeps an Underweight rating on the shares. A headcount reduction and several important strategic agreements “turn us modestly more positive on the outlook for the shares,” but the firm keeps an Underweight rating due to lingering risks to its turnaround story. However, Morgan Stanley recognizes that SolarEdge’s recent strategic initiatives are “steps in the right direction,” the analyst tells investors.
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