Bloom Energy price target raised to $103 from $73 at Roth Capital

Roth Capital analyst Chip Moore raised the firm’s price target on Bloom Energy (BE) to $103 from $73 and keeps a Neutral rating on the shares after its Q3 earnings beat. The current positioning and commercial momentum are perhaps the most positive in company history, but the forward expectations are already factoring in very large order flow and incremental capacity growth in future years, the analyst tells investors in a research note. Roth adds it is positive on Bloom’s position with established technology that can be rapidly deployed in markets that are increasingly grid-constrained, but it also continues to find the risk/reward as balanced at current valuation levels.

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