Bloom Energy price target raised to $68 from $58 at Clear Street

Clear Street raised the firm’s price target on Bloom Energy (BE) to $68 from $58 and keeps a Hold rating on the shares. The firm says the company’s sales “should benefit strongly” this year from a recent customer order of solid oxide fuel cells for a power generation plant in Wyoming. The order appears tied to the 1 GW supply framework agreement signed with American Electric Power (AEP) in November 2024, which had only a minimum initial firm order of 100 MW, the analyst tells investors in a research note. American Electric’ s recent disclosure indicated this specific power supply to a facility is to come entirely from fuel cells generation. Clear Street anticipates the power generation facility project could cost nearly $3B, including non-fuel cells infrastructure expenses and construction costs, which is not all Bloom revenue.