Fluence Energy price target lowered to $27 from $28 at RBC Capital

RBC Capital analyst Christopher Dendrinos lowered the firm’s price target on Fluence Energy (FLNC) to $27 from $28 and keeps an Outperform rating on the shares. The firm expects that the heavily second half-weighted FY25 revenue guidance and an expectation for a large working capital outflow in 2025 will weigh on shares near-term, the analyst tells investors in a research note. Late stage negotiations on $1.5B of contracts that could be announced with Q1 earnings and additional orders that could be finalized in the March timeframe may serve as catalysts to tighten the guidance and for management to express additional confidence in the outlook, RBC says.