SolarEdge Technologies Inc. (SEDG) Shares Soar 38.7% Amid Jefferies Price Target Hike

SolarEdge Technologies Inc. (SEDG) shares surged 38.7% week-over-week and hit a new record high, driven by Jefferies raising its price target to $49 from $30 and upgrading its recommendation to "hold" from "underperform." The investment firm cited higher European TTF gas prices and potential boosted demand for solar as the reason for the upgrade. SolarEdge also unveiled its next-generation three-phase product, SolarEdge Nexis, in Germany.