CNBC Pro

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.

More In Future of Energy

CNBC ProGoldman picks stocks poised to benefit from the multitrillion-dollar ESG opportunity ahead
CNBC ProThis clean energy play's business model may just be recession proof
CNBC ProUBS downgrades lithium name Albemarle after 35% rally in May