Bloom Energy downgraded to Underperform from Hold at Jefferies

Jefferies downgraded Bloom Energy (BE) to Underperform from Hold with a price target of $31, up from $24. The firm believes the share risks are to the downside given limited visibility into Bloom’s growth post 2026. In addition, there are “some early signs of over-exuberance” in the stock, the analyst tells investors in a research note. Jefferies cites Bloom’s “rich valuation” for the downgrade. It wants to see “significantly incremental company-specific data points” to justify current share levels.