UPDATE: Northland Capital Markets Upgrades SolarEdge Technologies (SEDG) to Market Perform

Northland Capital Markets analyst Gus Richard upgraded SolarEdge Technologies (NASDAQ: SEDG) from Underperform to Market Perform.

The analyst comments "SEDG missed consensus by $0.53 and our estimates by $0.58. The miss was due to foreign currency devaluation and a higher tax rate. While execution has been less than stellar, the demand environment is specular while logistic and supply chain challenges are easing. Over the last 3 years, SEDG has significantly underperformed ENPH, and its lower PE multiple reflects its poor execution. We lift our rating to MP as we think it is becoming more challenging for SEDG to underperform."

For an analyst ratings summary and ratings history on SolarEdge Technologies click here. For more ratings news on SolarEdge Technologies click here.

Shares of SolarEdge Technologies closed at $211.30 yesterday.

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