JPMorgan analyst Mark Strouse downgraded Fluence Energy to Neutral from Overweight with an unchanged price target of $25. The company reported fiscal Q1 results ahead of expectations and increased 2023 guidance as order activity remains strong, the analyst tells investors in a research note. While its long-term thesis remains unchanged regarding revenue and profit growth, the firm is moving to the sidelines given the recent outperformance in the stock. It looks for a pullback or signs of acceleration above expectations before potentially getting more constructive.
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