Mizuho cuts SolarEdge stock price target on weak U.S. market outlook

Mizuho reduced SolarEdge's price target to $38 from $71, maintaining a Neutral rating. The move follows weak U.S. market conditions and third-quarter guidance below expectations. The company's revenue and margin outlook for Q3 came in below both Mizuho's and consensus estimates. Softness in the U.S. market offset strength in Europe and battery sales. Shares trade at $33.90, with a market capitalization of $2.06 billion. SolarEdge's SST technology remains in proof-of-concept testing. Mizuho noted limited U.S. visibility and diminished SST value, while the company reported its first non-GAAP operating profit in nearly three years.