Barclays lowered the firm’s price target on Fluence Energy (FLNC) to $16 from $20 and keeps an Equal Weight rating on the shares as part of a fiscal Q2 preview. The company’s tax credit risk is resolved as its cell supplier retains Foreign Entity of Concern compliance and Section 45X eligibility, the analyst tells investors in a research note. However, Barclays expects Middle East shipping disruptions to drive a Q2 sales miss. It also believes Fluence’s quarterly bookings are likely to come in soft.
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