花旗上调Fluence、Energy Vault评级并将Canadian Solar上调至中性

Citi analysts upgraded three storage-focused stocks on Wednesday—Fluence Energy (FLNC) to Buy/High Risk with a $24 price target, Energy Vault (NRGV) to Buy/High Risk with a $5 price target, and Canadian Solar (CSIQ) to Neutral/High Risk with an $18 PT—generally remaining constructive on names exposed to storage, utility-scale solar, and the AI buildout, while companies with residential exposure continue to face headwinds.
Fluence (FLNC) has a favorable setup into the quarter and an attractive longer-term growth story, with a key opportunity to capture an outsized market share of the growing hyperscaler market, Citi's Vikram Bagri says, adding that a potential revenue miss this quarter could be overshadowed by any update the company can provide regarding its data center pipeline and an expected FQ3 hyperscaler order announcement.
Energy Vault (NRGV) now trades at a level that offers investors a much more attractive risk/reward, as the story is less dependent on flawless execution of the project development roadmap, Bagri says, adding that consensus EBITDA estimates for FY 2026-27 are also unchanged since June.
On Canadian Solar (CSIQ), the analyst says he sees potential for upside in the shares from the pivot toward higher-margin domestic PV module manufacturing through cutting-edge HJT modules while creating significant value through the capture of 45X credits, and storage business volumes are on track to double Y/Y, while the company could potentially sign its first hyperscaler customer in the next few months.