BofA raised the firm’s price target on Bloom Energy (BE) to $26 from $24 and keeps an Underperform rating on the shares. Bloom’s new up-to-$5B partnership with Brookfield “adds a blue-chip counterparty and reinforces its position at the center of the AI-driven power-resiliency build-out,” the analyst tells investors. However, while this is a strategic win, it remains an early-stage memorandum, not contracted backlog, and the market is “paying today for a decade of delivery,” the analyst added.
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Read More on BE:
- Bloom Energy price target raised to $97 from $33 at BMO Capital
- Bloom Energy’s Strategic Partnership with Brookfield Signals Strong Growth Potential and Market Expansion
- Sell Rating on Bloom Energy Due to Uncertainty in Partnership and Capacity Expansion
- Cautious Optimism: Hold Rating for Bloom Energy Amid Strategic Partnerships and Emerging Technology Uncertainties
- Bloom Energy price target raised to $115 from $105 at UBS