SolarEdge Technologies (SEDG) PT Raised to $209 at Cowen

Cowen analyst Jeffrey Osborne raised the price target on SolarEdge Technologies (NASDAQ: SEDG) to $209.00 (from $189.00) while maintaining an Outperform rating.

The analyst commented, "SolarEdge delivered strong top line results in Europe which led to 2Q sales coming in at the high end of guidance. Management was cautiously optimistic about a US recovery with early positive indicators, noting resi channel inventory has been depleted but C&I remains. Despite softer European margins, the 33% midpoint of 3Q GM guide suggests improvement. Reiterate Outperform and raise PT to $209."

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