Investing.com -- Mizuho initiated coverage of Fluence Energy with an "Outperform" rating and a price target of $8, citing strong market positioning, rising demand for battery storage, and potential margin improvements.
Fluence, a leading energy storage integrator with over 15% market share in North America, is well-positioned to benefit from increasing grid reliability needs and declining battery costs, Mizuho said.
The firm sees upside potential in Fluence’s domestic battery sourcing, which could support pricing power and margins.
Mizuho expects U.S. utility-scale battery storage deployments to grow at a 10% CAGR through 2030, driven by falling costs, renewable energy expansion, and higher power market volatility.
Additional tailwinds include rising AI-related energy demands and Fluence’s Ultrastack product gaining traction in Europe as a transmission asset.
Fluence faces margin pressure due to competition from battery cell suppliers. however, analyst said “the company should be able to improve gross margin in the next one-two years due to its firstmover advantage with domestic battery cell sourcing”
The firm’s $8 price target, based on 9x FY26E EV/EBITDA, reflects Fluence’s competitive positioning despite growing competition and potential risks from an accelerated U.S. policy shift under a new administration.
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