SolarEdge Technologies (SEDG) PT Raised to $340 at Piper Sandler After CFO Discussion
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Piper Sandler analyst Kashy Harrison raised the price target on SolarEdge Technologies (NASDAQ: SEDG) to $340.00 (from $328.00) while maintaining a Overweight rating after hosting a fireside chat with CFO, Ronen Faier. Key takeaways include: 1) the solar segments are broadly trending in the appropriate direction with US commercial representing a bit of a wildcard; 2) there could be upside potential to SEDG's longer-term battery/storage revenue and vertical integration could represent a competitive advantage; 3) the e-Mobility optionality is meaningful longerterm.
The analyst stated "we see opportunities capable of driving bottom-line growth over an extended time period. Finally, if the clean energy aspects of the American Jobs Plan are enacted, SEDG would be well positioned to capitalize on regulatory tailwinds surrounding solar and storage within the US".
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