Wall Street analysts love this newly public energy storage company

The 20 MW Malita Energy Storage Facility in the province of Davao Occidental.
Courtesy: Fluence

Power storage buildout is key to a greener future since batteries will enable intermittent energy sources like wind and solar to fuel the grid continuously, and Wall Street analysts are bullish on storage play Fluence Energy.

The company, which is a joint venture between AES and Siemens, went public on Oct. 28 via a traditional IPO that valued the company at roughly $4.7 billion. Shares are down about 10% since then, and while the company said supply chain headwinds will persist into 2022, Wall Street firms believe it will be a long-term win for investors.