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SolarEdge Technologies Inc. (NASDAQ:SEDG) is one of the 10 Stocks Gaining Momentum Fast.
SolarEdge soared by 38.7 percent week-on-week, even hitting a new record high on Friday, as investors took path from an investment firm’s 63-percent higher price target for its stock.
In a market note, Jefferies raised SolarEdge Technologies Inc.’s (NASDAQ:SEDG) stock to “hold” from “underperform” previously, while issuing a new price target of $49 versus $30 prior.
Photo by Quang Nguyen Vinh on Pexels
The coverage was based on higher European TTF gas prices, which have already soared by 94 percent in just the past few weeks since the ongoing geopolitical tensions began. This, it said, could potentially boost demand in solar to get spared from higher power prices from conventional resources such as oil and natural gas.
In other news, SolarEdge Technologies Inc. (NASDAQ:SEDG) on Thursday unveiled its next-generation three-phase product in Germany.
Called SolarEdge Nexis, the new product brings together a new three-phase inverter up to 20kW, a modular battery system, and full-home backup capabilities into a simple-to-install four-component solution ideal for the German market.
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