- Truist analyst Tristan Richardson initiated Bloom Energy Corp BE with a Hold rating and a price target of $25, implying an upside of 16%.
- Richardson says that Bloom Energy offers a "unique" C&I opportunity as the solid oxide fuel cell technology that Bloom has developed is focused on always-on baseload power.
- The analyst cites expectations of accelerating positive trends in Solar & Energy Storage, with global policy frameworks around decarbonization driving policy support, along with expectations of 20% growth in residential installations for 2022 and 2023 after a "substantial rebound" coming in 2021.
- Price Action: BE shares are trading lower by 1.63% at $21.47 on the last check Friday.
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