BTIG raised the firm’s price target on Bloom Energy (BE) to $20 from $16 and keeps a Buy rating on the shares. The firm cites the company having signed a supply agreement with American Electric Power (AEP) as a quick fix for data centers and other large energy users while it builds more permanent grid infrastructure, the analyst tells investors in a research note. American Electric Power did not share a timeline for deploying the fuel cells capacity, but the company expects to see its commercial load grow about 20% annually over the next three years, the firm added.
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