Stock Track | Bloom Energy Soars 5% as Analysts Boost Price Targets After Key Deal

Stock Track11-22

Bloom Energy Corp's stock surged 5.01% in Friday's trading session, with shares of the fuel cell maker soaring amid renewed bullish sentiment from analysts following the company's recent deal with American Electric Power.

Fueling the rally were price target hikes from both Jefferies and Piper Sandler. Jefferies raised its target on BE to $22 from $12, citing the AEP deal as a positive step forward that highlights the importance of investment tax credits in securing such agreements. Meanwhile, Piper Sandler boosted its price target to $30 from $20 while reiterating an Overweight rating on the stock.

Analysts view the AEP deal as a potential catalyst for Bloom Energy to sign more similar contracts before year-end, with the company potentially providing further updates during an investor day event. The optimism reflects growing investor interest in the clean energy space as Bloom Energy positions itself to capitalize on the energy transition.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment