Northland upgraded SolarEdge (SEDG) to Market Perform from Underperform with an unchanged price target of $15.50. Shares have declined meaningfully since the firm’s downgrade on May 16, notes the analyst, who argues that regardless of what legislation ultimately looks like, utility-scale solar is “the cheapest and fastest way to add generation capacity” and SolarEdge is well-positioned as a non-Chinese supplier with cybersecurity capabilities.
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