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

Truist lowered the firm’s price target on Bloom Energy (BE) to $19 from $22 and keeps a Hold rating on the shares. The stock is down 23% year-to-date on concerns of a pullback in AI spending and tariff/macro-related headwinds, the analyst tells investors in a research note. While Truist continues to see potential for Bloom to build momentum in the data center space, the compounding of tariff/macro uncertainty together with rapid progression in LLM efficiency is creating near-term headwinds to a time-to-power story that requires incremental urgency amongst hyperscaler/datacenter customers to warrant a further premium multiple, Truist adds.