Overview
- Jefferies raised SolarEdge to Hold from Underperform and lifted its price target to $49 from $30.
- The shares jumped as much as 16.7% intraday on Friday following the call, after an initial premarket gain of about 4%.
- The broker increased 2027 and 2028 revenue estimates by 17% and 19% respectively, leaving 2026 largely unchanged.
- Jefferies pointed to a roughly 94% rise in European TTF gas prices as a potential driver of renewed solar demand, noting SolarEdge’s prior European revenue surge from $630 million in 2020 to $1.9 billion in 2023 during the energy crisis.
- Despite the upgrade, Jefferies cited valuation—after a roughly 60% year‑to‑date rally and about 18x 2027 EV/EBITDA—as a reason for restraint, with broader analyst consensus still cautious and an average target near $29.