In a report released yesterday, Gregory Lewis from BTIG maintained a Buy rating on Bloom Energy, with a price target of $145.00.
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Gregory Lewis has given his Buy rating due to a combination of factors that highlight Bloom Energy’s strong market position and growth potential. The company’s recent earnings report exceeded expectations, with revenue significantly surpassing consensus estimates, driven by robust product sales. This performance reflects Bloom Energy’s successful cost management and manufacturing efficiency improvements, as evidenced by the increase in gross margins.
Furthermore, Bloom Energy’s strategic partnerships and expansion plans, such as the collaboration with Brookfield and the Fremont expansion, position the company to capitalize on the growing demand for fuel cells, particularly in the data center sector. The company’s ability to secure large-scale agreements and its proactive steps to expand manufacturing capacity underscore its potential for sustained growth. These elements contribute to a positive outlook, justifying the increased price target and Buy rating.
Lewis covers the Energy sector, focusing on stocks such as DHT Holdings, Frontline, and Transocean. According to TipRanks, Lewis has an average return of 18.2% and a 51.02% success rate on recommended stocks.
In another report released on October 19, RBC Capital also maintained a Buy rating on the stock with a $123.00 price target.