Bloom Energy price target raised to $28 from $20 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Bloom Energy (BE) to $28 from $20 and keeps an Overweight rating on the shares. The firm, whose updated model assumes the 1 GW supply agreement recently announced with American Electric Power (AEP) is completed over the next four years, is raising its 2025 and 2026 EBITDA estimates by 35% and 62%, respectively, to reflect higher order volumes from the recent supply agreement.