FLNC - Fluence Energy Bloom Energy cut at J.P. Morgan after recent runs higher

Fluence Energy ( NASDAQ: FLNC ) -9.3% in Friday's trading after J.P. Morgan downgraded shares to Neutral from Outperform with a $25 price target despite reporting a smaller than expected Q4 loss and raising full-year earnings and revenue guidance.

JPM analyst Mark Strouse said he is "encouraged by the improving cadence of quarterly prints since the recent management change, which along with potential IRA-related order activity, could continue to buoy the stock," but he is moving to the sidelines due to the 41% YTD surge in Fluence's ( FLNC ) stock price.

Strouse also cut Bloom Energy ( NYSE: BE ) to Neutral from Overweight with a $27 price target, trimmed from $29, after its own strong Q4 results , including revenues and non-GAAP gross margin that hit records for the quarter and the full year.

Bloom's ( BE ) FY 2023 guidance was mixed, though Strouse believes the outlook for continued operating margin improvement will be viewed favorably by investors, while management commentary on demand remains solid and capacity expansion remains on track.

Citing an impetus from the Inflation Reduction Act and the expected easing of supply chains in battery storage, Morgan Stanley recently upgraded Bloom Energy to Outperform .

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