Baird upgraded Bloom Energy to Outperform from Neutral with a price target of $22, up from $16. The analyst sees potential catalysts ahead for the company in the form of cost reductions, improvements to the manufacturing process, and electrolyzer sales announcements. Bloom’s core business continues to improve with several use cases such as data centers and hospitals for which the time to power proposition remains attractive, the analyst tells investors in a research note.
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