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.
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