Bloom Energy initiated with a Buy at UBS

UBS analyst Manav Gupta initiated coverage of Bloom Energy with a Buy rating and $35 price target. While Bloom Energy is still in the process of commercializing its Solid Oxide electrolyzer, these are 20% more efficient than the PEM electrolyzer, and higher efficiency should allow Bloom to gain market acceptance and price its Solid Oxide electrolyzer at a premium to a PEM electrolyzer, Gupta tells investors in a research note.