Truist raised the firm’s price target on Bloom Energy to $13 from $12 and keeps a Hold rating on the shares. The company’s Q2 brought solid topline, albeit with a gross margin miss that now implies a larger step up in the second half of 2024, the analyst tells investors in a research note. The firm is incrementally positive on the company’s financial and commercial progress, but more needle-moving data center and other deals will be needed to underwrite meaningful upside to the current valuation, Truist added.
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