Bloom Energy downgraded to Neutral from Overweight at JPMorgan

JPMorgan analyst Mark Strouse downgraded Bloom Energy to Neutral from Overweight with a price target of $14, down from $19. The company reported Q4 results below expectations with a fiscal 2024 revenue outlook that was well below consensus, the analyst tells investors in a research note. While encouraged by Bloom’s margin trajectory, the firm believes specific visibility into the company’s targeted growth remains limited. Despite prospects for long-term growth arising from product and market expansion, JPMorgan is “sidelined until there is better visibility into a more pronounced ramp in revenue and operating income.”