Roth Capital reiterated a Buy rating on SolarEdge Technologies (NASDAQ: SEDG), and raised the price target to $40.00 (from $35.00), following the company's FQ4 earnings release. SEDG generated $98mn in revenue compared to consensus of $95mn. Non-GAAP EPS of 31c beat consensus of 22c. SEDG sees FQ1 revenues of $108-112mn vs. prior consensus of $102mn.

Analyst Philip Shen commented, "SEDG posted a strong FQ4 beat/strong FQ1 guide and continues to demonstrate positive momentum in its business. The company is executing well and winning share, and we see a number of levers and catalysts ahead to drive growth and margin expansion (next gen inverter and optimizer, capacity expansion in Mexico, line automation, etc.). We see current levels as an attractive entry point given the macro pullback (oil, China currency devaluation, SunEdison (NC) liquidity concerns, etc). Reiterate Buy, PT to $40."

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Shares of SolarEdge Technologies closed at $30.30 yesterday.