Fluence Energy downgraded to Peer Perform from Outperform at Wolfe Research

Wolfe Research analyst Steve Fleishman downgraded Fluence Energy (FLNC) to Peer Perform from Outperform without a price target The company’s “disappointing” results and outlook harken back to its “bumpy” post-initial public offering period, the analyst tells investors in a research note. The firm says that while delayed projects will show up and Fluence’s core growth outlook remains positive, its credibility needs to be rebuilt and competitive pressures are intensifying.