GLJ Research analyst Gordon Johnson upgraded SolarEdge (SEDG) to Hold from Sell with a $6.90 price target The firm cites the recent selloff in the shares and the “solar friendly” Senate for the upgrade. Being short carries risks as Senate budget bill language favors residential solar, creating risk of a near-term “swift move higher” in the shares, the analyst tells investors in a research note. However, GLJ still sees SolarEdge’s core business as “structurally flawed.”
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