Bloom Energy price target lowered to $20 from $22 at HSBC

HSBC lowered the firm’s price target on Bloom Energy to $20 from $22 and keeps a Buy rating on the shares. The White House and Department of Energy announced that seven regional hydrogen hubs have been selected to begin award negotiations for $7B in federal stimulus from the bipartisan infrastructure law, the analyst tells investors in a research note. With roughly two-thirds of hydrogen production from electrolysis, including projects in every hub, the firm sees electrolyzer manufacturers as “clear winners.”