RBC Capital keeps an Outperform rating and a $28 price target on Bloom Energy (BE) but notes that the company’s 6 MW transaction with Conagra (CAG) announced this morning highlights power shortages and Bloom’s market opportunity that expands well beyond datacenters. The company has established a strong blue chip customer base across multiple verticals, and the firm believes that Bloom’s SAM – Serviceable Addressable Market -continues to expand as energy grids become more constrained and utility prices continue to rise, the analyst tells investors in a research note.
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