SolarEdge Technologies (SEDG) Beats Expectations but Morgan Stanley Reiterates Equalweight on Valuation

Morgan Stanley analyst Stephen Byrd reiterated an Equalweight rating and $333.00 price target on SolarEdge Technologies (NASDAQ: SEDG) after Total Revenue surprised to the upside at $655mm vs guidance: $615-$645mm and consensus of $635mm. Solar revenues also beat expectations at $608mm vs guidance: $575 - $595mm and the consensus of $581mm. The company expects no impacts to 2Q and 3Q volumes from the ongoing Department of Commerce anti-circumvention / anti-dumping investigation.

The analyst stated "We continue to like the company's markets and strategy but remain EW the stock as we see more compelling upside in other clean tech stocks within our coverage universe."

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 $255.31 yesterday.

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