Piper Sandler lowered the firm’s price target on Fluence Energy to $18 from $20 and keeps a Neutral rating on the shares. Fluence Energy executed well against Q2 expectations given higher revenue and a narrower EBITDA loss, but the focus around the second half outlook is far more back-end weighted than expected, the analyst tells investors in a research note. Despite a continuation of strong execution from Fluence, Piper thinks valuation requires conviction in a 2025/2026 beat/raise story.
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