This post was originally published on this site
https://i-invdn-com.investing.com/news/LYNXNPEC9N0U2_M.jpg
BofA reiterated a Buy rating on the stock, stating that despite its recent underperformance, its second-half setup looks healthy.
“The Street expects a roughly flat 2023 for US resi, which is consistent with communications from SEDG mgmt., but coming out of Intersolar Munich (renewable industry conference), investors are weary of the European growth story, following the collapse in polysilicon prices,” the analyst wrote. “We argue these concerns seem misplaced, and point to EBITDA acceleration in 2H23, driven by compounding operating leverage and further C&I and storage deployments.”
Goldman Sachs sees the recent dislocation in solar stocks as “another buying opportunity, particularly in shares of SEDG.”
They expect the company “to benefit from continued growth in Europe and C&I, as well as more stable than expected pricing.”
