1422 ET - In the wake of last month's election and amid a quickly changing geopolitical landscape, the electric-vehicle and renewable-energy industries will face near-term challenges, Baird analysts say in a research note. Winners and losers will emerge, they say, pointing to energy-storage products company Fluence Energy and EV-maker Rivian as companies at the highest risk of being burned. Fluence stands to be hurt by any alterations to the Inflation Reduction Act, and its outlook for 2025 is heavily reliant on acceleration through the back half of the year, analysts say. Following its joint venture with Volkswagen and loan from the Department of Energy, analysts "see few catalysts in 2025 and expect shares to languish with EV sales." Baird lowers both equities' price targets and downgrades both stocks to neutral. (connor.hart@wsj.com)
(END) Dow Jones Newswires
December 18, 2024 14:22 ET (19:22 GMT)
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