SolarEdge price target raised to $20 from $17 at Roth MKM

Roth MKM analyst Philip Shen raised the firm’s price target on SolarEdge (SEDG) to $20 from $17 but keeps a Neutral rating on the shares. The company delivered a mixed Q4 and an in-linish Q1 revenue guide with better-than-expected margins, the analyst tells investors in a research note. EU markets remain challenged however, and while Tesla’s (TSLA) PowerWall 3supply/domcon challenges could support SolarEdge in the U.S. in the near term, the firm is on the sidelines until visibility and fundamentals improve more meaningfully, Roth adds.