TD Cowen analyst Jeff Osborne maintained a Hold rating on Bloom Energy (BE – Research Report) today and set a price target of $20.00.
Jeff Osborne has given his Hold rating due to a combination of factors surrounding Bloom Energy’s current market position and future prospects. While there is an expectation for a positive outlook from management and a reiteration of guidance, the timing of project completions remains a challenge. The company’s pipeline, including a significant portion related to the AEP deal, faces uncertainties due to legislative impacts in Ohio and the timing of larger data center projects.
Moreover, the reduction in transparency regarding MW/ASP disclosures and the increased costs associated with larger data center projects have raised concerns about margins. Additionally, questions remain about the potential impact of tariffs and the company’s capacity expansion plans. These factors contribute to a cautious approach, leading to the Hold recommendation.
In another report released on March 25, Wells Fargo also maintained a Hold rating on the stock with a $22.00 price target.