Roth MKM analyst Justin Clare lowered the firm’s price target on Fluence Energy to $27 from $31 and keeps a Neutral rating on the shares. The company’s Q3 results exceeded estimates and raised revenue guidance for the third consecutive quarter, but the management also cut its EBITDA view on more conservative gross margin assumptions, driving the firm’s price target cut, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on FLNC:
- Fluence Energy price target raised to $44 from $40 at Guggenheim
- Fluence Energy price target raised to $35 from $34 at Goldman Sachs
- Fluence Energy raises FY23 revenue view to $2.0B-$2.1B from $1.85B-$2.0B
- Fluence Energy reports Q3 EPS (20c), consensus (16c)
- Fluence Energy, Inc. Reports Third Quarter Fiscal 2023 Results