Why Solaredge Technologies Stock is Up 13% Today
Shares of SolarEdge Technologies (NASDAQ: SEDG) found a sunny corner of Wall Street on Friday. Boosted by a mildly bullish report from analyst firm Jefferies, the stock peaked at a 16.7% gain just before 11 a.m. ET. As of 11:55 a.m. ET, it had cooled down to a 13% increase.
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Jefferies analyst Julien Dumoulin-Smith lifted SolarEdge's recommendation from "underperform" to "hold." The target price rose from $30 to $49 per share. The upgrade immediately lifted SolarEdge's price above Jefferies' target, with the stock currently trading at $51.59 per share.
Source Fool.com
