** Shares of solar inverter maker SolarEdge Technologies SEDG.O fall 5.8% to $16.57 premarket
** Citigroup downgrades rating on SEDG to "sell" from "neutral", lowers price target to $9 from $12
** New PT represents a 49% downside to stock's last close
** Brokerage says it is cautious on residential solar sector, largely due to dependence of companies on incentives and relatively weaker financial flexibility
** "We are downgrading SEDG to sell due to its tight liquidity, challenging earnings outlook, and competition," Citigroup says
** Brokerage adds SEDG faces high operating costs despite restructuring announcements, especially relative to demand
** Stock fell 83% in 2024
(Reporting by Pooja Menon in Bengaluru)
((Pooja.Menon@thomsonreuters.com;))
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