As previously reported, Jefferies downgraded Fluence Energy (FLNC) to Underperform from Hold with a price target of $3, down from $4, following the stock’s rerating up 20% from Friday post tariff easing on China and a tax bill proposal that was initially perceived as positive on the IRA. The firm, however, thinks “the market got it wrong for storage” and with Street estimates not reflecting the current macro picture the firm sees a “valuation disconnect,” the analyst tells investors. The firm’s estimates are “meaningfully below” the Street, the analyst added.
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