Fluence Energy price target raised to $35 from $34 at Goldman Sachs

Goldman Sachs analyst Brian Lee raised the firm’s price target on Fluence Energy to $35 from $34 and keeps a Buy rating on the shares. The company’s Q3 results were “relatively solid” and the management raised its FY23 revenue guidance, though the recent stock’s recent strength and investor concerns around a pending shelf filing and weaker-than-expected results in the digital segment may have weighed on shares despite the strong overall execution in the quarter, the analyst tells investors in a research note. Goldman Sachs adds that it also remains positive on the stock given the potential for more margin acceleration heading into FY24.