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Fly News Breaks for August 13, 2019
Aug 13, 2019 | 07:26 EDT
JPMorgan analyst Mark Strouse raised his price target for SolarEdge Technologies (SEDG) to $100 from $84 citing an increased assigned multiple. The stock has outperformed year-to-date following "record results" in the first half of 2019, but further gains are likely owing to accelerating earnings growth, share gains, new product introductions, and expected further clarity regarding the company's non-solar business strategy, Strouse tells investors in a research note. Despite the outperformance, SolarEdge's valuation "still remains compelling," contends the analyst. He calls the company a stock to own within solar, along with First Solar (FSLR), and keeps an Overweight rating on the name.
News For SEDG;FSLR From the Last 2 Days
Sep 20, 2019 | 07:42 EDT
Credit Suisse analyst Maheep Mandloi maintained a Neutral rating on SolarEdge and raised his price target to $80 from $70, citing optionality. In a research note to investors, Mandloi says he met with CFO Ronen Faier, who highlighted key growth areas that are expected to drive revenue growth in the long term vs. consensus estimates of $1.4B revenues in 2019, and says the utility scale solar and Kokam opportunities could alone be worth about $40 per share. The analyst says he awaits additional details on product launches and the company's ability to compete against incumbents at an analyst day in November.