** Renewable energy storage provider Fluence Energy's FLNC.O shares fall 5.8% to $7.70
** Mizuho downgrades co to "neutral" from "outperform"
** Says co's advantage of using non-China battery cells is already priced in, and expects increased domestic competition within one to two years
** But brokerage increases FLNC's PT by 67% to $10
** Cites co's strong domestic production and non-China battery cell supply
** Mizuho also downgrades peers - Nextracker NXT.O and Shoals Technologies SHLS.O to "neutral"; and Enlight Renewable Energy ENLT.O to "underperform"
** Eight of 23 brokerages rate the stock "buy" or higher, 13 "hold" and two " strong sell"; median PT is $6, according to data compiled by LSEG
* As of last close, FLNC down 48.6% YTD
(Reporting by Sanchayaita Roy in Bengaluru)
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.