Fluence Energy price target raised to $25 from $24 at BMO Capital

BMO Capital analyst Ameet Thakkar lowered the firm’s price target on Fluence Energy to $25 from $24 and keeps an Outperform rating on the shares as part of a broader research note previewing Q3 results in the Energy Transition & Infrastructure sector. The earnings season is coinciding with U.S. elections, and investors should be cautious with respect to adding to positions or putting new capital to work but rather should focus on “relative value”, the analyst tells investors in a research note. There is limited probability of a full rollback of the Inflation Reduction Act, but policy uncertainty will emerge in case of a Trump win and Republican gains in Senate/House, the firm added, also stating that Fluence is its “top idea” into earnings as introduction of FY25 guidance should further confirm its confidence in FY25 revenue growth.