SolarEdge price target raised to $16 from $14.50 at Canaccord

Canaccord raised the firm’s price target on SolarEdge (SEDG) to $16 from $14.50 and keeps a Hold rating on the shares after the company announced it will be closing its Energy Storage division in an effort to refocus efforts on its core solar activities. The firm views the news as “generally positive,” with management refocusing SolarEdge’s efforts on financial stability and the core Solar business specifically. However, it believes there could be additional downward revisions to estimates based on changes to the Inflation Reduction Act during the fiscal 2026 budget reconciliation, which would impact the company’s revenue as of January 1, 2026, once passed by Congress.