As previously reported, BofA analyst Julien Dumoulin-Smith downgraded Bloom Energy to Underperform from Neutral with a price target of $10, down from $16, with an expectation that 2023-2025 revenues will be about flat versus accelerating previously. The firm has not seen evidence of the anticipated commercial successes during the pivotal period of the years and a reset of expectations is “not priced-in,” the analyst tells investors.
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