Fluence Energy Price Target Raised to $23 at RBC Capital

Analysts at RBC Capital raised their price target on Fluence Energy, Inc. (NASDAQ:FLNC) to $23 from $18, noting they see the recent management changes as an opportunity to prove that the company can overcome supply chain challenges both near and far.

The analysts anticipate more clarity on long-growth prospects in Q1/23 in a potential Analyst Day. The analysts continue to see margin breakeven as the top driver of the stock. The analysts believe near-term factors that support better margins will come from relaxing COVID policies in China, suppliers adjusting to forced labor laws and favorable results from the Commerce Department's solar tariff circumvention study.