JPMorgan Upgrades Bloom Energy Corp. (BE) to Overweight

JPMorgan analyst Mark Strouse upgraded Bloom Energy Corp. (NYSE: BE) from Neutral to Overweight with a price target of $33.00 (from $18.00).

The analyst comments: "We are upgrading BE to Overweight from Neutral. With fuel cells unexpectedly qualifying again for 48E tax credits as part of the OBBB, we believe there is upside to consensus revenue and margin estimates beginning in FY26. As competing gas turbine pricing and lead times remain elevated, we believe the tax credits for fuel cells can push hesitant BE customers over the finish line and expect order activity to increase accordingly. We also tactically expect BE’s 2Q messaging to be relatively more upbeat than our coverage average given final OBBB law is now in place, though there is still some uncertainty regarding safe harbor rules following a July 7 Executive Order that could keep a lid on sentiment for solar and wind. We are updating our model and introducing FY27 estimates with this note. We are establishing a YE26 price target of $33, up from our prior YE25 target of $18."

For an analyst ratings summary and ratings history on Bloom Energy Corp. click here. For more ratings news on Bloom Energy Corp. click here.

Shares of Bloom Energy Corp. closed at $24.30 yesterday.

You May Also Be Interested In

• Freedom Broker Downgrades Gentherm Incorporated (THRM) to Hold
• Waymo Explores Split With Uber - FT
• Canadian National Railway (CNI) PT Raised to $139 at Evercore ISI