Mizuho downgraded Fluence Energy (FLNC) to Underperform from Neutral with a price target of $15, up from $9. The firm says the shares are pricing in “premature enthusiasm” around data center pipeline conversion, AESC’s battery cell line integration, and potential upside to the pipeline. It cites higher battery storage demand and improved EBITDA margins for the target boost, but downgraded the shares on Fluence’s premium valuation.
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