Analysts bail on solar stocks after SolarEdge warning of weak earnings

📆 20/10/2023 17:36:00
📰 CNBC

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Several analysts slashed their price targets and ratings on SolarEdge stock after the company delivered crushing news about waning demand.

Solaredge 's warning on Thursday of weakening European demand was another red flag following what has already been a tumultuous year for the solar industry. "During the second part of the third quarter of 2023, we experienced substantial unexpected cancellations and pushouts of existing backlog from our European distributors," said SolarEdge CEO Zvi Lando in a statement .

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Solar stocks tumble to 3-year low as Solaredge drops 25% on demand warningSolar stocks, which have already had a difficult year, fell to their lowest levels in three years on Friday.
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