** Brokerage Jefferies raises rating on renewable energy storage provider Fluence Energy FLNC.O to "hold" from "underperform," raises PT to $16 from $11 ** Shares up 10.8% at $18.6 premarket

** New PT represents downside of 4.6% to stock's last close

** Brokerage says co has long-term growth potential, benefiting from the global clean energy transition and rising demand for large-scale energy storage

** "We think FLNC is on track for a recovery in its core US market, with macro headwinds largely behind" - Jefferies

** Jefferies says FLNC looks better positioned for FY26, but awaits clarity on larger roadblocks that could prolong a U.S. recovery if not resolved

** 4 of 21 brokerages rate the stock buy, 13 "hold" and 4 "sell" or lower, median PT is $11 - data compiled by LSEG

** Up to last close, shares up 17% YTD

(Reporting by Varun Sahay in Bengaluru)

((Varun.sahay@thomsonreuters.com;))