Bloom Energy price target raised to $85 from $44 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Bloom Energy (BE) to $85 from $44 and keeps an Overweight rating on the shares. Bloom’s new relationship is ramping with Oracle (ORCL), a company that is undergoing a “massive inflection in demand,” the analyst tells investors in a research note. The firm views Bloom as “extremely well positioned” as one of the only players able to scale manufacturing and deploy into tightening market. Morgan Stanley cites the potential for significant data center-driven order flow for the target increase. Bloom is well positioned for success in powering artificial intelligence data centers following Oracle’s upside bookings surprise, the firm contends.