Andrew Percoco, an analyst from Morgan Stanley, maintained the Buy rating on Bloom Energy (BE – Research Report). The associated price target remains the same with $35.00.
Andrew Percoco has given his Buy rating due to a combination of factors that highlight Bloom Energy’s potential for growth. Despite some concerns about project timing, Percoco remains optimistic about the demand for Bloom’s fuel cell technology, particularly in serving data centers. This optimism is supported by the continued demand for GPUs and AI investments, which have not significantly slowed down.
Additionally, Percoco’s price target for Bloom Energy suggests a substantial upside, indicating confidence in the company’s future performance. While there are risks related to the macro and policy environment that could affect project timelines, the management’s engagement with customers provides some reassurance. Overall, the Buy rating reflects a belief in Bloom Energy’s ability to capitalize on its market opportunities despite potential timing challenges.
In another report released on April 15, Robert W. Baird also maintained a Buy rating on the stock with a $27.00 price target.
BE’s price has also changed dramatically for the past six months – from $10.140 to $18.910, which is a 86.49% increase.