Bloom Energy Gets Price Target Boost Post Solid Q2 Results

Raymond James analyst Pavel Molchanov raised the price target for Bloom Energy Corp 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.

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