SolarEdge, which makes solar energy solutions, got a good report
Last week, Oppenheimer analysts gave the shares of SolarEdge Technologies Inc. (SEDG), a company that makes solar energy solutions, a better outlook. In just a few days, the news caused the number of quotations to grow by almost 20%. The last price of SEDG stock on June 3 was $298.34. On Thursday, June 2, analysts at Oppenheimer changed their recommendation for SolarEdge from “average” to “above average,” and they raised the price target to $334.
Most of the time, a prediction like this can be seen as a call to buy stocks that look good. Experts say that SolarEdge is in a good place in the market because the demand for alternative energy sources keeps going up. The fact that many governments and international organizations are working hard to reduce harmful emissions and make sure there is enough energy to go around is another factor in growth. Oppenheimer thinks that investing in solar energy could be one of the best things to do. At the same time, companies like SolarEdge can become the biggest winners from new trends in the environment.
In particular, they are better protected from inflationary pressures and economic downturns. SolarEdge makes inverters, which are devices that send electricity from solar panels to the grid or directly to electric users at the right voltage. For instance, the company makes inverters, which are charging stations for electric cars, as well as smart ways to run solar power systems. SolarEdge also doesn’t work directly with customers. Instead, it makes deals with utility companies and solar energy system installers. This is what makes SolarEdge Technologies’ business strong and helps them make more money.
