Bloom Energy upgraded to Outperform from Neutral at Mizuho

Mizuho analyst Maheep Mandloi upgraded Bloom Energy (BE) to Outperform from Neutral with a price target of $26, down from $28. The firm sees “asymmetric risk/reward upside” for Bloom from marginal orders from utilities or other large load customers. Bloom’s technology can help meet power demand today, while its combined cycle gas turbines are sold out for 4-7 years, transmission upgrades are delayed 7-11 years in some states, and lower emissions offer a faster time to market versus backup generators, the analyst tells investors in a research note. Mizuho believes the company has managed tariffs, as evident in reaffirmed 2025 guidance despite 100 basis points of impact to gross margins from U.S. reciprocal tariffs.