Oppenheimer analyst Colin Rusch raised his price target for SolarEdge (SEDG) to $78 from $66 after the company posted upside to Q2 expectations while guiding Q3 revenue 20% above Street expectations. While incrementally lower gross margin guidance may disappoint some investors, it is clear that SolarEdge's market position is not being negatively impacted by Enphase Energy (ENPH) performing well, the analyst contends. Rusch reiterates an Outperform rating on SolarEdge's shares.

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B. Riley lowered the firm's price target on SolarEdge to $124 from $133 and keeps a Buy rating on the shares ahead of the Q1 report. With high interest rates and channel dynamics impacting the solar industry, resulting in uncertainty and low visibility around growth, B. Riley continues to advocate for solar/storage ownership models, the analyst tells investors in a research note. The firm views Altus Power (AMPS) and HASI (HASI) as its top ideas for the rest of 2024. These are the best two ways to play the space and have higher growth visibility in a challenging macro environment, the analyst tells investors in a research note.