UBS downgraded Fluence Energy (FLNC) to Sell from Neutral with a price target of $8, down from $22. The firm believes the company’s competitive risks are intensifying. U.S. tax policy is “catalyzing a step-change increase” in domestic battery supply by incentivizing auto makers to pivot from electric vehicle battery manufacturing toward utility-scale battery energy storage systems, the analyst tells investors in a research note. UBS expects battery oversupply in 2027 onward to drive declining battery energy storage systems costs and challenge Fluence’s margins. It believes the market “significantly underappreciates” the potential scale of battery energy storage systems manufacturing capacity additions.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
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 $28 at Goldman Sachs
- Fluence Energy price target lowered to $16 from $20 at Barclays
- Private Markets: Nuclear, hypersonics score nearly $800M in fresh capital
- Fluence Energy price target lowered to $23 from $27 at Susquehanna
- Buy Rating on Fluence Driven by Strengthened U.S. Energy Storage Position, Secure Domestic Cell Supply, and IRA-Linked Tax Incentive Tailwinds