Fluence (FLNC) Soars 17% as 7 Investment Firms Go Bullish

We recently published 10 Stocks With Effortless 14-25% Gains. Fluence Energy, Inc. (NASDAQ:FLNC) is one of the best performers on Thursday.

Fluence Energy soared by 17.58 percent on Thursday to finish at $23.34 apiece as investors took heart from two investment firms’ whopping price target upgrades for its stock.

In a market note, UBS raised its price target for Fluence Energy, Inc. (NASDAQ:FLNC) by 175 percent to $22 from $8 previously, while reaffirming its “neutral” stance.

According to UBS, the upgrade was based on the company’s relatively high growth rate as compared with its peers, alongside higher visibility to gross margin improvements.

Similarly, Fluence Energy, Inc. (NASDAQ:FLNC) earned a 167 percent higher price target of $20 from Citigroup, versus $7.50 previously.

The company also received bullish coverage from five other investment firms last week, namely Canaccord, Jefferies, Goldman Sachs, Susquehanna, and Morgan Stanley.

Canaccord was the most bullish among the five, raising its price target by 150 percent to $25 from $10 previously, while maintaining its “buy” recommendation.

Jefferies, on the other hand, followed with a 45 percent price target bump to $16 from $11 previously.

Goldman Sachs, for its part, raised its price target by 33 percent to $20 from $15; while Susquehanna upgraded the energy firm by 17.6 percent to $20 from $17.

Lastly, Morgan Stanley gave a 16.7 percent higher price target, at $14, versus $12 earlier.

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Disclosure: None. This article is originally published at Insider Monkey.