- Raymond James analyst Pavel Molchanov raised the price target for Bloom Energy Corp (NYSE:BE) to $29 from $23 while maintaining the Strong Buy ratings on the shares.
- The analyst mentions that Bloom is a high-beta, aggressive growth idea in a popular but polarizing vertical. He states that Bloom's positioning vis-à-vis energy resilience represents a play on climate adaptation, specifically the growing prevalence of grid outages.
- KeyBanc analyst Sangita Jain raised the price target for Bloom Energy to $33 (an upside of 12%) from $24 while maintaining the Overweight rating on the shares.
- The analyst states that BE remains well positioned to gain from the many benefits offered to it by the Inflation Reduction Act.
- Jain believes that higher power prices make BE's servers competitive in additional markets, and the Hydrogen PTC in the IRA should help to jumpstart hydrogen electrolyzer sales.
- Susquehanna analyst Biju Perincheril raised the price target on Bloom Energy to $30 (an upside of 2%) from $28 while maintaining the Positive rating on the shares.
- The analyst stated that Bloom Energy reported solid Q2 results, with higher than expected fuel cell acceptances pushing the top-line beat.
- The analyst notes that margin pressures have begun to wane, and the company reaffirmed its gross margin guidance.
- Price Action: BE shares are trading higher by 18.54% at $29.35 on the last check Wednesday.
Bloom Energy Gets Price Target Boost Post Solid Q2 Results
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