Bloom Energy price target raised to $24 from $21 at BofA

BofA raised the firm’s price target on Bloom Energy (BE) to $24 from $21 and keeps an Underperform rating on the shares. While the firm acknowledges Bloom has delivered progress with marquee wins with American Electric (AEP) and Oracle (ORCL) and fast-to-power deployments, making Bloom a headline beneficiary of the AI data center trade with a greater than 650% stock rally over the past year, BofA believes the “fundamentals don’t justify the move.” Both the AEP and Oracle wins left guidance unchanged, the Fremont’s 1 GW facility is running at less than 50% utilization, and supply chain checks suggest revenue growth relatively more in line with the firm’s 2026 estimates, contends the analyst, who notes that BofA’s forecasts remain “well below” Street estimates for 2026-28.