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Bank of America sees energy storage as the one 'bright spot' in renewable industry, upgrades a name

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The bank upgraded the stock to buy from neutral and raised its price target to $26 per share from $24.

Investors should bet on Fluence Energy as storage demand for renewable energy grows with robust interest from asset owners across the country and input costs for battery cells rapidly decline, according to Bank of America. The bank upgraded the stock to buy from neutral and raised its price target to $26 per share from $24, calling a "bright spot" in the renewable energy space. The new forecast implies upside of 42% from Tuesday's close.

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