Bloom Energy price target raised to $26 from $20 at Truist

Truist analyst Jordan Levy raised the firm’s price target on Bloom Energy to $26 from $20 and keeps a Hold rating on the shares ahead of its Q4 results this Thursday. The company’s continued ramp of its Fremont facility should drive another record quarter for acceptances and revenues, while setting Bloom Energy up for impressive 2023 growth, the analyst tells investors in a research note. The firm adds that the outlook for the company’s fuel cells also looks "incrementally positive", and it believes that "meaningful" electrolyzer orders would help underwrite Bloom Energy’s longer-term growth outlook.