Roth/MKM Upgrades Fluence Energy Inc. (FLNC) to Buy, 'we see more upside ahead'

Roth/MKM analyst Justin Clare upgraded Fluence Energy Inc. (NASDAQ: FLNC) from Neutral to Buy with a price target of $31.00 (from $27.00).

The analyst comments "We are upgrading FLNC to Buy following the strong FQ4 beat and higher-than-expected 2024 revenue guidance. Post-earnings, shares moved sharply higher and are up ~27% since the release (vs. ICLN of +4.6%). However, we see more upside ahead as we expect the combination of continued strong revenue growth, rising GMs, and improving opex efficiency to drive meaningful expansion in EBITDA an EPS over 2024 and 2025. We are increasing our price target to $31 from $27."

For an analyst ratings summary and ratings history on Fluence Energy Inc. click here. For more ratings news on Fluence Energy Inc. click here.

Shares of Fluence Energy Inc. closed at $25.77 yesterday.

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