TD Cowen lowered its price target on SolarEdge Technologies (NASDAQ: SEDG) to $75 from $85. The firm cited concerns over SolarEdge's margin outlook. Despite the reduction, TD Cowen maintained its "Buy" rating on the solar technology company's stock. The new target represents a significant upside from the stock's current trading price.
The analyst noted expected market share gains in the U.S. commercial sector. These gains are anticipated to help offset challenges in the U.S. residential market.
This price target adjustment occurs amid a mixed backdrop of analyst ratings for SolarEdge. The broader Wall Street community holds a consensus rating of "Reduce" or "Hold" on the stock.