In a report released today, David Arcaro from Morgan Stanley maintained a Buy rating on Bloom Energy, with a price target of $35.00.
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David Arcaro has given his Buy rating due to a combination of factors surrounding Bloom Energy’s recent agreement with Oracle. This partnership is significant as it involves Bloom providing onsite power to Oracle’s AI data centers, highlighting the potential for Bloom’s fuel cell technology in large-scale, mission-critical applications. The agreement serves as a validation of Bloom’s technology and its capability to secure contracts with major customers in the data center industry.
Furthermore, Oracle’s substantial planned capital expenditures for data centers in the coming years present a considerable opportunity for Bloom to expand its market presence. Bloom’s current manufacturing capacity and its ability to scale up quickly if needed also contribute to the positive outlook. Each recurring deal of 50 MW could potentially add significant value to Bloom’s stock, supporting the Buy rating given by David Arcaro.
In another report released on July 21, Susquehanna also maintained a Buy rating on the stock with a $30.00 price target.
Based on the recent corporate insider activity of 38 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BE in relation to earlier this year.