Fluence Energy falls after Piper Sandler PT cut

Fluence Energy

21/04/2025 18:51

** Renewable energy storage provider Fluence Energy's FLNC.O shares fall 4% to $3.55

** Piper Sandler cuts PT on company's shares to $4 from $10

** Due to China's dominance of the battery supply-chain, U.S. storage development is most at risk from the tariffs, brokerage says

** Chinese tariffs at ~153% represent significant risk to FLNC's margins; imports from Vietnam are subject to a 10% tariff, implying further risk - brokerage

** Brokerage expects FLNC's orders in the June quarter to fall, given uncertainty

** 10 of 25 brokerages rate the stock "buy" or higher, 14 "hold" and 1 " strong sell"; median PT $8, according to data compiled by LSEG

** FLNC down 76.8% YTD, as of Thursday's close

(Reporting by Juby Babu in Mexico City)

((Juby.Babu@thomsonreuters.com))