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SEDG - SMA Solar: Not A Buy Despite The Undemanding Valuation
SolarEdge Technologies Inc.
2024-06-21 09:11:39 ET
Summary
SMA Solar shares are down more than 75% from their peak in June 2023 and 50% YTD.
The company achieved record revenue in 2023 and profit quadrupled, but guidance for 2024 was muted.
Q1 2024 results confirmed the slowdown, and SMA Solar issued a revenue and profit warning on June 18. Investors reacted negatively and shares sank 30% in one day.
SMA shares look cheap now. However, the question is whether the long-term growth prospects are intact.
Political developments like the shift to the right in the recent EU election pose a risk.