Bloom Energy price target raised to $80 from $42 at BTIG

BTIG analyst Gregory Lewis raised the firm’s price target on Bloom Energy (BE) to $80 from $42 and keeps a Buy rating on the shares. The firm expects demand for Bloom’s fuel cells to increase over the next few years on the back of the ongoing high performance computing / AI datacenter infrastructure buildout, the analyst tells investors in a research note. The ongoing rush for power has increased demand for Bloom’s fuel efficient, load following fuel cells, which saw the management greenlight the 1GW expansion at its Fremont facility in July, BTIG added.