SolarEdge price target raised to $17 from $12 at Roth MKM

Roth MKM analyst Philip Shen raised the firm’s price target on SolarEdge (SEDG) to $17 from $12 and keeps a Neutral rating on the shares after its Q4 results. The outlook for EU resi remains challenged, and elevated rates and election results have caused much uncertainty for U.S. residential business, while new PowerWall3-like offerings add another headwind to an EU market already experiencing demand challenges from lower forecasted retail power pricing, expiring subsidies, and risk for grid charges, the analyst tells investors in a research note.