Fluence Energy initiated with an Outperform at Mizuho

Mizuho initiated coverage of Fluence Energy (FLNC) with an Outperform rating and $8 price target Fluence is one of the top storage integrators in the world with greater than 15% market share in North America and a growing presence in Europe, the Middle East and Africa, the analyst tells investors in a research note. The firm likes the company’s first-mover advantage with domestic sourcing, the secular demand improvements for battery storage as prices decline, and incremental demand for grid reliability.