UBS Lifts SolarEdge Technologies (SEDG) Price Target Affirms ‘Neutral’ Rating

SolarEdge Technologies, Inc. (NASDAQ:SEDG) is one of the must-buy small-cap stocks to invest in. On August 19, UBS reiterated a ‘Neutral’ rating on the stock and raised its price target to $30 from $20. The price target hike comes on the stock rallying by more than 100% year to date.

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A solar panel array, its blue sky backdrop beaming with power.

UBS raised its price target for the stock, impressed by SolarEdge’s prospects in the push for market share in the US residential inverter market amid the shift towards leased systems. The company boasts of a robust relationship with third-party ownership (TPO) partners, expected to strengthen its prospects in the industry.

In addition, the company boasts of products specifically designed to support the TPO model. Similarly, UBS expects SolarEdge to gain market share in the commercial and industrial segments as foreign entities, subject to concern restrictions, are expected to eliminate competitors for customers seeking tax credits.

SolarEdge Technologies, Inc. (NASDAQ:SEDG) is a company that specializes in clean energy solutions, focusing on the production, consumption, and management of solar energy. It works on DC-optimized inverter solutions, which maximize energy production in solar PV systems.

While we acknowledge the potential of SEDG to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than SEDG and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.