Susquehanna upgrades Fluence Energy after short report selloff

Susquehanna upgraded Fluence Energy to Positive from Neutral with an unchanged price target of $24. The company has made “tremendous strides” in its operational and financial performance over the past 12-18 months and the recent price weakness, especially following a short report late last week, provides an attractive risk/reward profile, the analyst tells investors in a research note. The firm says that growth in utility solar, Inflation Reduction Act benefits, and falling lithium prices are all “tremendous tailwinds” for the energy storage outlook while Fluence is well positioned to benefit from growing battery installations.