Bloom Energy price target lowered to $19 from $22 at Truist

Truist analyst Jordan Levy lowered the firm’s price target on Bloom Energy (BE) to $19 from $22 and keeps a Hold rating on the shares. The firm noted concerns of a pullback in artificial intelligence spending and tariff/macro-related concerns. While Truist continues to see potential for Bloom Energy to build momentum in the data center space, the firm told investors that it sees the compounding of tariff/macro uncertainty together with rapid progression in large language model efficiency creating near-term headwinds to a time-to-power story that requires “incremental urgency” amongst hyperscaler/datacenter customers to warrant a further premium multiple.