As previously reported, Truist analyst Jordan Levy upgraded Bloom Energy to Hold from Sell with a price target of $11, up from $9, following the stock’s “post earnings washout.” While the firm continues to forecast structural headwinds for the company’s fuel cell business, with shares down about 24% year-to-date the firm believes the current valuation accurately reflects both the opportunities and challenges facing the fuel cell business and Bloom’s early hydrogen efforts, the analyst tells investors.
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