Fluence Energy price target raised to $9 from $8 at UBS

UBS raised the firm’s price target on Fluence Energy (FLNC) to $9 from $8. The firm keeps a Sell rating on the shares as growing U.S. battery supply from auto OEMs entering the stationary storage market is expected to drive lower BESS costs and pressure margins, leaving profitability as the key concern despite improving sentiment and strong long-term demand for energy storage, the analyst tells investors in a research note.