Morgan Stanley notes that the Public Utility Commission of Ohio yesterday approved the projects between Bloom Energy (BE), American Electric Power (AEP), and data center customers Amazon Data Services (AMZN) and Cologix, which allows the projects to move forward as proposed. This removes a regulatory overhang and uncertainty around the commercial arrangements from these deals, according to the analyst, who has an Overweight rating and $30 price target on Bloom shares.
Claim 55% Off TipRanks
New trading tool for BE bulls/bearsPublished first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BE:
- Positive Outlook on Bloom Energy: Regulatory Approvals and Strategic Opportunities in Ohio
- Bloom Energy call volume above normal and directionally bullish
- Bloom Energy Extends Debt Maturity with Note Swap
- Bloom Energy put volume heavy and directionally bearish
- Unusually active option classes on open May 8th