{"id":50131,"date":"2023-08-18T13:16:44","date_gmt":"2023-08-18T17:16:44","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/4-big-analyst-cuts-bofa-sours-on-solaredge-stock-takes-a-dive\/"},"modified":"2023-08-18T13:16:47","modified_gmt":"2023-08-18T17:16:47","slug":"4-big-analyst-cuts-bofa-sours-on-solaredge-stock-takes-a-dive","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=50131","title":{"rendered":"4 big analyst cuts: BofA sours on SolarEdge; stock takes a dive"},"content":{"rendered":"
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\u00a9 Pavlo Gonchar \/ SOPA Images\/Sipa via Reuters Connect <\/span>
\n<\/i>\n<\/div>\n

Here is your Pro Recap of the biggest analyst cuts you may have missed since yesterday: downgrades at SolarEdge Technologies, Marqeta, Easterly Government Properties, and Crestwood Equity Partners.<\/p>\n

InvestingPro subscribers got this news first. Never miss another market-moving headline.<\/p>\n

SolarEdge Technologies stock drops on BofA downgrade<\/strong><\/h2>\n

SolarEdge Technologies (NASDAQ:) shares fell more than 4% yesterday after BofA Securities downgraded the company to Neutral from Buy and cut its price target to $181.00 from $320.00, as reported in real time on InvestingPro.<\/p>\n

The bank noted that the company\u2019s Q3\/23 guidance was cautious, and they are growing more pessimistic about the outlook for component sales in the medium term following their recent checks with installers and distributors.<\/p>\n

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SEDG is caught in a choppy sector backdrop, where unit sales become increasingly unknown: 1) across the US (demand slowdown, due to higher interest rates and softer power prices). 2) in EU resi and C&l (due to channel inventory glut), and 3) where component constraints for critical end markets exacerbate competitive pressures.<\/p>\n<\/blockquote>\n

Marqeta slashed to Sell <\/strong><\/h2>\n

BTIG downgraded Marqeta <\/span><\/span> (NASDAQ:) to Sell from Neutral with a price target of $4.00.<\/p>\n

According to the firm, Q2 results last week were impressive, but the more important headline was the renewal of a 4-year contract with Block’s (NYSE:) Cash App.<\/p>\n

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While the move was applauded by the sell side, the stock has not moved significantly, which we likely attribute to the details of the agreement and the effect on the net take rate, as well as ongoing woes amidst the non-Block revenue streams.<\/p>\n<\/blockquote>\n

Although BTIG maintains a positive view of Marqeta’s strong product offering, they are growing concerned about the challenges in the near and medium term. The declining take rates in both the Block and non-Block segments, coupled with a disappointing performance in non-Block revenue and the absence of a clear path to achieving profitability, led the firm cut its rating on Marqeta.<\/p>\n

Two more downgrades<\/strong><\/h2>\n

Easterly Government Properties <\/span><\/span> (NYSE:) shares dropped more than 5% yesterday after RBC Capital downgraded the company to Underperform from Sector Perform and cut its price target to $13.00 from $15.00.<\/p>\n

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We still believe DEA should generate minimal organic growth and minimal external growth (in the right environment). However, the earnings run-rate should trend modestly lower in part due to the rollover of interest rate swaps further pressuring the dividend.<\/p>\n<\/blockquote>\n

Stifel downgraded Crestwood Equity Partners (NYSE:) to Hold from Buy with a price target of $28.00.<\/p>\n

Get ready to supercharge your investment strategy with our exclusive discounts.<\/p>\n

Don’t miss out on this limited-time opportunity to access cutting-edge tools, real-time market analysis, and expert insights. Join InvestingPro today and unlock your investing potential. Hurry, the Summer Sale won’t last forever!<\/p>\n

\"summer<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Pavlo Gonchar \/ SOPA Images\/Sipa via Reuters Connect Here is your Pro Recap of the biggest analyst cuts you may have missed since yesterday: downgrades at SolarEdge Technologies, Marqeta, Easterly Government Properties, and Crestwood Equity Partners. InvestingPro subscribers got this news first. Never miss another market-moving headline. SolarEdge Technologies stock drops on BofA downgrade […]<\/p>\n","protected":false},"author":1,"featured_media":43714,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-50131","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\n4 big analyst cuts: BofA sours on SolarEdge; stock takes a dive | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Pavlo Gonchar \/ SOPA Images\/Sipa via Reuters Connect Here is your Pro Recap of the biggest analyst cuts you may have missed since yesterday: downgrades\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=50131\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"4 big analyst cuts: BofA sours on SolarEdge; 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