Bloom Energy Shares 'Attractive,' Raw Material Concerns Overblown, UBS Says

MT Newswires Live07-10 23:30

Bloom Energy (BE) shares are offering an "attractive" buy opportunity, as concerns over scandium sourcing are overstated, UBS Securities said in a note Thursday.

The report said the firm has developed a robust and diversified supply network with meaningful redundancy embedded within its procurement strategy.

Bloom is protecting its supply-chain advantages and competitive positioning rather than evidence of an inability to scale with limited disclosure on sourcing arrangements, the report said.

The note added that the market is conflating a lack of public disclosure with a lack of supply availability.

"We remain constructive on Bloom's ability to meet future demand requirements and scale operations over time," the note said. UBS kept its buy rating and $350 price target.

Price: 236.09, Change: -20.93, Percent Change: -8.14

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