Strategic Growth and Innovation Drive Bloom Energy's Buy RatingWe are initiating coverage of Outperform rating and a $100 PT given its ability to address the current power demand through multiple avenues given its fuel agnostic servers and streamlined manufacturing and technological approach and strong momentum with utilities and leading AI companies. Bloom Energy is executing on an aggressive multi-year growth strategy to aid global decarbonization and deploy hydrogen solutions at scale to capitalize on the rapidly evolving energy mix. Bloom’s highly efficient and low emissions-intensive solid oxide fuel cells are increasingly gaining traction in the market and widely being accepted in the rapidly expanding end markets, including marine, aviation, data centers, BEV charging, green ammonia, steel, e-fuel, CCUS, and methanol.