US Top Rating Updates on 12/23: PARA, FSLR, ENPH, SEDG and More

Loop Capital analyst Alan Gould downgraded $Paramount Global-B (PARA.US)$ to Sell from Hold with a price target of $14, down from $30. The analyst cites the company's exposure to the "rapidly declining" traditional linear TV business while noting that its path to profitability in Streaming is "unclear". Although Paramount's content cycle is "strong", the company's earnings and cash flow are declining, its leverage is growing, and its dividend exceeds free cash flows, the analyst tells investors in a research note.

Daiwa analyst Jonathan Kees initiated coverage of $SolarEdge Technologies (SEDG.US)$ with a Neutral rating and $325 price target. The company has been delivering negative profit margins recently and a snap-back to pre-COVID levels is likely more challenging than peers, Kees tells investors. SolarEdge is losing market share in the U.S. duopoly, facing Chinese competitors in Asia markets, and already has a large base internationally, so growth there "may be more measured," Kees added.

Wells Fargo analyst Steven Cahall upgraded $Charter Communications (CHTR.US)$ to Equal Weight from Underweight with a price target of $340, down from $370.