SEDG – Given management’s excitement about safe harbor orders, and confidence about inverters and asset growth, market expectations are overly bearish, suggesting upside is likely

• SolarEdge Technologies, Inc. (SEDG:USA) currently trades well below corporate averages relative to UAFRS-based (Uniform) earnings, with a 14.7x Uniform P/E, implying bearish expectations for the firm. However, given management’s excitement about safe harbor orders and confidence about storage-compatible inverters and asset growth, market expectations are overly bearish, suggesting outperformance is likely for SEDG going forward
  
  
• Specifically, management generated an excitement marker when saying that the delivery of safe harbor orders will be split roughly evenly between Q1 and Q2 2020. In addition, they are confident that storage-compatible inverters are an area of recent growth, that they have grown assets by 50% in each of the past two years, and that non-recurring expenses included a pre-acquisition claim related to Kokam