SolarEdge stock slides as UBS trims SEDG target and oil shock jolts markets
SolarEdge shares dropped 3.4% to $39.20 in early New York trading Tuesday, following a sharp selloff in solar stocks as oil prices surged and rate-cut hopes faded. UBS lowered its price target on SolarEdge to $36. The Nasdaq Composite fell about 2% at the open amid concerns over Middle East conflict and inflation. Investors await further company updates at upcoming conferences and first-quarter results expected in early May.