Wolfe Research analyst Steve Fleishman upgraded Fluence Energy to Outperform from Peer Perform with a $25 price target. The analyst says a "string of positive data points" suggests the company’s new CEO "has righted the ship." The firm sees a gradual shift to higher-margin projects throughout the remainder of fiscal 2023 and positive progress on the re-tooling of Digital as upside catalysts for the shares. Fluence is well positioned in an area that is poised for significant growth – battery storage, writes Wolfe.
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