Fluence Energy (FLNC) Stock Pops 9% as UBS Drops Bearish Stance
TLDR
- Fluence Energy (FLNC) surged 8.7% in pre-market trading after UBS upgraded the stock from Sell to Neutral.
- UBS raised its price target to $12.00 from $9.00.
- UBS now projects 22% five-year compound annual revenue growth through 2030.
- The stock had been beaten down following a Q3 earnings miss, with multiple analysts cutting targets.
- FLNC hit a 52-week low of $6.60, well off its high of $33.51.
Fluence Energy (FLNC) jumped 8.7% in pre-market trading on Tuesday after UBS upgraded the stock from Sell to Neutral and raised its price target to $12.00 from $9.00.
The move was a big deal. UBS had been one of the most persistently bearish institutional voices on the stock, making this a meaningful shift in tone.
The upgrade came after a rough stretch for FLNC following its Q3 earnings miss in early August. Morgan Stanley, Roth Capital, and Citi all cut their price targets after the results. GLJ Research added a downgrade on August 20, piling more pressure onto an already battered stock.
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