Fluence Energy price target lowered to $34 from $37 at Canaccord

Canaccord lowered the firm’s price target on Fluence Energy (FLNC) to $34 from $37 and keeps a Buy rating on the shares. The company’s “inflection is at hand,” the analyst tells investors in a research note. The firm says that with “healthy” quarterly results reported, fiscal 2024 marked Fluence’s turn to EBITDA and free cash flow positive. Canaccord attributes the post-earnings selloff to the backend-loaded nature of the company’s fiscal 2025 outlook. As management hits their guidance for the year, the negative stock reaction “will be but a distant memory,” the firm contends.