Fluence Energy (NASDAQ:FLNC) saw its shares pop early Thursday following an upgrade by Goldman Sachs to buy from neutral. The Wall Street bank said the recent pullback creates an attractive opportunity. Its price target of $29 implies 78% upside from Wednesday’s close.
Fluence was in the news this week with the release of Fluence Ultrastack™ . Ultrastack is an advanced energy storage product designed to transform the way transmission and distribution networks operate around the world by addressing some of the main challenges created by the energy transition, such as weakening system stability, network infrastructure congestion, and low visibility into distributed assets. To support this energy transition, Bloomberg NEF estimates that the annual global investments into power grids will increase from $274 billion in 2022 to nearly $871 billion in the 2040s, reaching $21.4 trillion by 2050.
Ultrastack unlocks the power of battery-based energy storage for transmission network owners and operators. The product provides patent-pending controls applications that deliver network utilization and system stabilization services, including synthetic inertia and power oscillation damping. These advanced applications have been developed by leading power system engineers with a deep understanding of transmission system operations. Ultrastack also offers more than 99% system uptime to meet the high asset availability requirements of critical infrastructure.
FLNC shares hiked $2.11, or 13%, to $18.36.
