BofA analyst Dimple Gosai raised the firm’s price target on Bloom Energy (BE) to $20 from $7 and keeps an Underperform rating on the shares. While the firm credits Bloom for securing several significant orders, including the American Electric (AEP) deal with up to 1 GW potential and partnerships with Quanta Computer, it increased its volume estimates, but maintains flat revenues on lower average selling prices and seeks more momentum on greenfield projects to justify the current valuation, adding that it sees execution risks that remain.
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