Charged: Analyst Sees Apple Announcing EV Partnership In 2021

Northland analyst Gus Richard raised the firm's price target on SolarEdge (SEDG) to $210 from $195 as he rolled forward his estimates to 2022. However, the analyst kept an Underperform rating on the shares after the company missed his non-GAAP gross margin and operating margin estimates. SolarEdge's solar business continues to underperform Enphase Energy's (ENPH), contended Richard, who also thinks SolarEdge's battery and e-mobility acquisitions have been met with investor enthusiasm but will create margin and operating profit headwinds.

Roth Capital analyst Philip Shen raised the firm's price target on SunPower (SPWR) to $40 from $16, while keeping a Neutral rating on the shares. The analyst noted that while SunPower provided mixed results/guidance, management is improving gross margins, and there seems to be more ahead. Shen estimates 2021 adjusted EBITDA of about $130M, a 9% margin on $1.5B of revenue, and believes the stock might "take a breather."

Keeping an Outperform rating on SunPower's shares, Baird analyst Ben Kallo raised his price target on the stock to $49 from $20. The analyst noted revenues were better-than-expected and said he anticipates strong tailwinds and continued fundamental momentum.

JPMorgan analyst Mark Strouse also increased the firm's price target on SunPower to $28 from $25, while maintaining a Neutral rating on the shares following quarterly results.

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