JP Morgan Initiates SolarEdge With Overweight Rating, $34 Target

JP Morgan’s Paul Coster initiated coverage of Solaredge Technologies Inc SEDG with an Overweight rating and a price target of $34.

Analyst Paul Coster believes that SolarEdge offers investors technology-differentiated and unit-driven exposure to growth in the distributed solar and energy storage segments.

SolarEdge’s strengths lie in its robust balance sheet and a simple business model that allow the company to exhibit earnings leverage with growth. Coster added that the company’s stock “belongs as a core-holding in All Energy portfolios.”