SMA Solar shares drop after SolarEdge results disappoint

Sma Solar Technology AG

20/10/2023 07:42

** Shares in German solar farm producer SMA Solar  S92G.DE 
drop 5.6% in early Frankfurt trade after its U.S. competitor's
SolarEdge  SEDG.O  preliminary results came in below
expectations 
    ** SolarEdge's shares dropped 18% in after-hour trade on
Thursday
    ** Jefferies says the peer's release makes it wary about the
German firm's order intake in Q4, following what it expects to
be a weak Q3
    ** "This could put some pressure on '24 estimates, given a
much lower backlog to start the year. We remain cautious," the
analysts adds 
    ** However, the broker also notes the German firm's recent
guidance upgrade, saying that its large-scale segment puts it in
a better position than peers 
    ** SMA Solar is due to report 9-month results on Nov. 9    

 (Reporting by Andrey Sychev)
 ((andrey.sychev@thomsonreuters.com))