We see 50-82% downside to SolarEdge Technologies' (SEDG) stock price due to negative earnings revision catalysts. See below for our full 38 page memo.
Table of contents:
- Despite stagnant sales in the United States during the previous six quarters due to a declining solar end market, SEDG reported 70% year-over-year growth rate in 4Q17 even though there was minimal market growth in SEDG’s core US markets during this period. (page 2)
- SEDG’s market share growth among US residential installers does not properly explain the 4Q17 volume surge, in our view. (page 4)
- While