SolarEdge Is A 'Show-Me Story' After Disappointing Q3: Analyst

SolarEdge Technologies, Inc. (NASDAQ:SEDG) reported worse-than-expected third-quarter results on Wednesday and analysts are weighing in on what is next for the company. 

Truist on SEDG: Truist analyst Jordan Levy highlighted prior commentary from Enphase Energy, Inc. (NASDAQ:ENPH) on weakness in the European market as forewarning for SolarEdge's disappointing results and guidance.

SolarEdge expects revenue of between $180 million and $200 million for the fourth quarter, below the consensus of $308.66 million. 

Levy said market weakness is cyclical and sees SolarEdge as a "show-me story" over the coming quarters. 

Truist reiterated its Hold rating on SolarEdge and lowered its price target from $20 to $15. 

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Full story available on Benzinga.com