Evercore ISI raised the firm’s price target on Fluence Energy (FLNC) to $59 from $37 and keeps an Outperform rating on the shares. The energy storage sector, as “one of the most rapidly expanding sub-sectors within the clean energy landscape,” has been on “a strong upward trajectory,” says the analyst, who is remaining bullish on energy storage and raising price targets for a trio of names in the group. Evercore has “strong confidence” in Stem (STEM), Fluence and Eos Energy (EOSE) amid the competitive landscape of the energy storage industry, as it argues that each exhibits substantial upside potential and maintains a competitive edge through expertise in technology advancement, digital capabilities and service delivery.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on FLNC:
- Fluence Announces Opening of India Innovation Centre to Support Rapid Expansion of Global Operations
- Stem initiated with an Equal Weight at Barclays
- Fluence Energy initiated with an Overweight at Barclays
- Fluence Energy price target lowered to $28 from $31 at BMO Capital
- Fluence Energy files to sell 135.37M shares of Class A common stock for holders