SolarEdge Technologies, Inc. (NASDAQ:SEDG) is one of the Hot Growth Stocks to Invest in Now. On October 13, Charles Minervino from Susquehanna raised the firm’s price target on SolarEdge Technologies, Inc. (NASDAQ:SEDG) from $25 to $40, while maintaining a Hold rating on the stock.
The analyst noted in a research note that their firm has updated price targets in the alternative energy space, ahead of the Q3 earnings. This is because they remain extremely bullish on the sector, due to the favourable policies. The firm believes the sector benefits from the latest policies that preserve tax credit and other key provisions in the Inflation Reduction Act that favour the sector’s manufacturing.
In addition, on October 16, Mark Strouse from J.P. Morgan also raised the price target on SolarEdge Technologies, Inc. (NASDAQ:SEDG) from $27 to $29, while keeping a Hold rating.
SolarEdge Technologies, Inc. (NASDAQ:SEDG) provides inverter solutions and power optimizers for solar photovoltaic systems. Its products maximize energy output at the module level and include energy storage and monitoring software.
While we acknowledge the potential of SEDG as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.
Disclosure: None. This article is originally published at Insider Monkey.
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