Fluence Energy tariff concerns ‘likely overdone,’ says BofA

BofA raised the firm’s price target on Fluence Energy (FLNC) to $25 from $24 and keeps a Buy rating on the shares following the company’s Q4 results. The company’s pipeline increased by nearly $500M to $21B, and backlog grew 55% year-over-year to a record $4.5B, highlighting strong momentum in energy storage and data center demand, the analyst says. While tariffs are a concern post-election with potential rates exceeding 25% including Trump’s proposed additional 10% on China, the firm argues only 10% of Fluence’s U.S backlog of $1.6B is exposed and calls tariff concerns “likely overdone.”