RBC Capital raised the firm’s price target on Fluence Energy (FLNC) to $16 from $12 and keeps a Sector Perform rating on the shares. The company’s Q2 results missed and bookings came in below our forecast, but Fluence signed two MSAs – Master Supply Agreements – with hyperscalers, which grows the datacenter pipeline by 30% sequentially, the analyst tells investors in a research note.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FLNC:
- Analyst Maintains Hold on Fluence as Hyperscaler Upside Is Priced In Amid Valuation and Execution Risks
- Fluence Energy price target raised to $9 from $8 at UBS
- The Week That Was, The Week Ahead: Macro and Markets, May 10
- Fluence, Applied Materials, Kopin, Epam Trending With Analysts
- Short Report: Bearish bets on Vital Farms at record high