Shares of SolarEdge Technologies Inc. (NASDAQ:SEDG) are trading higher Wednesday morning as investors digest a Wall Street upgrade.
SolarEdge Technologies stock is surging to new heights today. What’s fueling SEDG momentum?
UBS Upgrade To Buy Catalyzes Wednesday Advance
UBS upgraded the stock from Neutral to Buy, citing favorable supply-demand dynamics created by the Federal Communications Commission’s July 28 ban on new foreign-produced power inverter imports.
With the restriction affecting over 50% of the U.S. inverter market, analysts expect SolarEdge, which already maintains U.S. manufacturing bases across Florida, Texas and Utah, to capture significant market share and gain pricing power across its commercial, industrial and utility-scale product lines.
