HSBC downgraded Fluence Energy (FLNC) to Hold from Buy with a price target of $4, down from $15. The firm says the Trump Administration’s “doubling down” on tariffs against China imports is “creating shockwaves” in the U.S. energy storage market. A 145% tariff on Chinese battery cell imports could increase system costs by over 50%, thus risks making many projects uneconomical, the analyst tells investors in a research note.
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