BUZZ-SolarEdge jumps as brokerages hike PT after layoff plan

Reuters

Jan 08, 2025

** Shares of solar inverter maker SolarEdge Technologies SEDG.O jump 11.6% to $18.17, on course for their fifth consecutive session of gains

** Multiple brokerages hike price targets on SolarEdge after company said on Monday it would layoff 400 employees globally

** Company says it expects to save about $9 mln to $11 mln due to the actions

** Morgan Stanley raises stock PT to $11 from $9

** Wells Fargo hikes PT to $19 from $15, after revising 2025 EBITDA estimates to a loss of $83 mln from $89 mln previously

** Wells Fargo says EBITDA should turn positive in Q3 2025

** Stock rose 6.6% on Monday

** Goldman Sachs, Canaccord also hike price targets on SEDG, according to thefly.com

** SEDG slumped over 85% in 2024; including session moves, it is up about 32% so far this month

(Reporting by Lisa Pauline Mattackal)

((LisaPauline.Mattackal@thomsonreuters.com;))

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