Northland Capital Markets Starts SolarEdge Technologies (SEDG) at Outperform

Northland Capital Markets analyst Gus Richard initiates coverage on SolarEdge Technologies (NASDAQ: SEDG) with a Outperform rating and a price target of $72.00.

The analyst commented, "SEDG is enabling a shift in energy production, storage and consumption away from CO2 producing sources through electrification. Its primary products convert solar energy to AC. Through M&A and its core power electronics expertise, SEDG is expanding into Uninterruptible Power Supplies, Lithium-Ion batteries and EV power trains. Solar is 93% of revenue and we expect it will continue to grow at a high teens to low twenties rate and fund expansion into new markets. Initiating with OP and PT of $72."

For an analyst ratings summary and ratings history on SolarEdge Technologies click here. For more ratings news on SolarEdge Technologies click here.

Shares of SolarEdge Technologies closed at $59.22 yesterday.

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