SolarEdge Technologies (SEDG) stock plummeted 5.60% during intraday trading on Thursday, as the market reacted to conflicting analyst assessments and a key price target reduction.
The decline followed RBC Capital Markets adjusting its price target on SolarEdge downward to $32 from $34 while maintaining a Sector Perform rating. This negative revision contrasted with more optimistic views from other analysts, including Morgan Stanley raising its target to $40 from $33 and TD Cowen increasing its target to $43 from $38.
Overall analyst sentiment remains mixed, with Barclays reaffirming a Hold rating and a $39 price target. According to FactSet data, SolarEdge currently carries an average rating of Hold with a mean price target of $33.78, reflecting the divergent views among Wall Street firms covering the solar technology company.