Roth Capital analyst Philip Shen reiterated a Buy rating and $310.00 price target on SolarEdge Technologies (NASDAQ: SEDG) after the company delivered a Q2 beat/better-than-expected Q3 guide.

The analyst stated "The beat was driven largely by higher optimizer mix. Looking ahead, Q3 likely has a catchup with lower pricing, but eventually the higher optimizer mix returns with more MW sold into C&I/utility. We believe the strong Q3 guide is supported by strong international shipments with the U.S. representing only 35% of Q2 MWs. Look for the strong sequential growth and better-than-expected 2022 view for storage to drive the stock higher."

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Shares of SolarEdge Technologies closed at $257.72 yesterday.