As previously reported, Guggenheim downgraded Fluence Energy (FLNC) to Sell from Buy with a price target of $6, down from $26, following the release of the company’s Q1 results, which missed estimates and included significant revisions to the company’s outlook for FY25. The energy storage market is still growing, but Fluence’s struggles to execute even in the currently favorable environment have caused the firm to “reassess our approach to valuation,” the analyst tells investors. The stock is likely to trade down sharply today, but the firm does not think it’s time for investors to step in yet, the analyst added.
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>>
Read More on FLNC:
- Fluence Energy price target lowered to $20 from $23 at Roth MKM
- Morning Movers: Lattice Semiconductor, SelectQuote jump after earnings reports
- Fluence Energy price target lowered to $10 from $24 at Citi
- Fluence Energy sinks 38% after Q4 miss, analyst downgrades
- Fluence Energy downgraded to Sell from Buy at Guggenheim