Jefferies Raises SolarEdge Price Target To $24, Maintains Underperform

Core Viewpoint - Jefferies has raised its price target for SolarEdge Technologies to $24.00 from $20.00 while maintaining an Underperform rating, highlighting concerns over operational leverage despite significant stock performance [1] Group 1: Price Target and Rating - Jefferies increased the price target for SolarEdge Technologies to $24.00 from $20.00 [1] - The firm maintains an Underperform rating on the stock [1] Group 2: Performance Comparison - SolarEdge's stock has rallied 183% year-to-date, significantly outperforming the TAN index's 40% gain [1] Group 3: Market Outlook and Risks - Analysts noted potential benefits from the market's shift to PPA and lease structures under Section 25D, along with some commercial and industrial share gains [1] - Execution risks remain a concern for the company [1] - Jefferies estimates SolarEdge's volumes will grow 10% in 2026, which is below the consensus expectation of 17% [2] - The firm expressed caution regarding the residential solar market outlook beyond 2026 [2]