Shares of SolarEdge Technologies (SEDG) fell 5% in Friday's intraday trading session, underperforming the broader market. The plummet came as multiple analysts issued bearish ratings and expressed concerns over the company's competitiveness and strategic positioning.
Jefferies reiterated a Sell rating on SEDG, citing concerns about temporary boosts from recent factors and questioning the long-term sustainability of the company's business model. Northland also downgraded SolarEdge to Underperform, arguing that the company is "behind in new products, customer service, and reliability," which could take time to repair.
While Morgan Stanley upgraded SEDG to Equal Weight from Underweight, citing reduced liquidity concerns, the firm maintained a relatively muted $18 price target. Other analysts, including Wells Fargo, maintained Hold ratings, reflecting a cautious stance on the stock's near-term outlook.