Northland upgraded SolarEdge Technologies, Inc. to Market Perform from Underperform, maintaining an unchanged price target of $15.50. The upgrade follows a meaningful decline in shares since the firm’s previous downgrade.
The firm cited the 'solar friendly' stance of the Senate as a key factor, suggesting that utility-scale solar remains the most cost-effective and rapid method for adding generation capacity. This legislative environment is seen as potentially mitigating some of the industry's recent headwinds.
Northland also highlighted SolarEdge's strong positioning as a non-Chinese supplier with robust cybersecurity capabilities. This competitive advantage is particularly relevant given the increasing focus on domestic content and supply chain security in the U.S. solar market.
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