Bloom Energy price target raised to $75 from $35 at RBC Capital

RBC Capital analyst Chris Dendrinos raised the firm’s price target on Bloom Energy (BE) to $75 from $35 and keeps an Outperform rating on the shares. Long-term confidence is the firm’s key takeaway following its meetings with Bloom management, the analyst tells investors in a research note. The near-term drivers continue to be the time to power advantage and high reliability, but longer term, the management is confident in its ability to continue to improve on Bloom Energy’s value proposition, the firm added.

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