Piper Sandler analyst Kashy Harrison lowered the firm’s price target on Fluence Energy (FLNC) to $10 from $20 and keeps a Neutral rating on the shares. The firm views Fluence’s AC block announcement favorably given potential tailwinds to ASPs/gross margins, but says Chinese competition in markets lacking strong protectionism can be daunting and proof points are required to increase confidence. U.S. margins also require a soft landing on the anode AD/CVD case to avoid temporal disruption, Piper adds.
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 $14 from $34 at Canaccord
- Fluence Energy price target lowered to $9 from $22 at Barclays
- Fluence Energy’s Hold Rating Amid Financial Challenges and Market Uncertainties
- Fluence Energy’s Hold Rating Amidst Underperformance and Competitive Pressures
- Fluence Energy downgraded to Neutral from Buy at Roth MKM