In a report released today, Ameet Thakkar from BMO Capital maintained a Hold rating on Bloom Energy, with a price target of $136.00.
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Ameet Thakkar has given his Hold rating due to a combination of factors influencing Bloom Energy’s current market position and future potential. The company’s recent financial performance, including a significant revenue beat in the third quarter, reflects positive momentum. However, the valuation of Bloom Energy appears high, trading at a multiple that assumes full utilization of its manufacturing capacity by 2027, which introduces some risk.
Despite the promising developments, such as the strategic partnership with Brookfield and the expectation to exceed its fiscal year 2025 guidance, there are uncertainties regarding the timing and execution of larger framework agreements with key partners. Additionally, while the order momentum for Bloom Energy’s solid oxide fuel cell technology is strong, the technology is still in its early stages of development for the targeted applications. These factors contribute to a cautious outlook, leading to the Hold rating.
In another report released today, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $114.00 price target.
Based on the recent corporate insider activity of 46 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BE in relation to earlier this year.