SolarEdge Technologies shares rise 2.68% intraday after UBS raised price target to $30 and Treasury Department's new tax rules boosted renewable-energy stocks.

Solaredge Technologies, Inc. rose 2.68% in intraday trading, with the company's stock benefiting from a positive outlook in the renewable energy sector. The Treasury Department's new tax rules provided an opportunity for companies installing wind and solar-power plants to receive credits before the recently passed tax bill reversing incentives kicks in. This news, along with the overall rally in renewable-energy stocks, contributed to the increase in SolarEdge Technologies' stock price.