Bloom Energy price target raised to $90 from $40 at JPMorgan

JPMorgan raised the firm’s price target on Bloom Energy (BE) to $90 from $40 and keeps an Overweight rating on the shares. The firm believes Bloom’s “positive catalysts remain on the horizon” despite the recent rally in the shares. The stock is pricing in close to full factory utilization in fiscal 2027, including announced capacity expansion by the end of 2026, but Bloom’s capacity can be expanded further within the existing facilities in a capex-light manner, the analyst tells investors in a research note. JPMorgan says the company’s existing real estate footprint could support up to 5 GW, assuming bookings visibility warrants further expansion. It upped Bloom’s fiscal 2027 estimates, believing prior assumptions for 40% factory utilization could prove conservative.