Bloom Energy posted a strong quarterly beat and multiple analysts maintained bullish ratings despite trimming price targets.
- Shay Boloor, chief market strategist at Futrum Equities, said in a post on X that he had added BE stock to his Family Portfolio due to “Bloom’s speed-to-power a massive advantage” amid the growing AI power demand.
- The fuel-cell-based energy provider on Tuesday reported earnings of $0.78 per share on revenue of $1.07 billion for Q2, surpassing Wall Street expectations.
- As per data from Koyfin, 28 analysts have an average price target of $280.29 on BE shares, implying an upside of about 71% from current levels.
Shares of Bloom Energy Corp. (BE) edged nearly 1.5% lower in the overnight session late Wednesday despite its blockbuster second-quarter (Q2) earnings results.
The stock attracted multiple price target cuts from Wall Street analysts on Wednesday.
However, Shay Boloor, chief market strategist at Futrum Equities, said in a post on X that he had added BE stock to his Family Portfolio due to “Bloom’s speed-to-power a massive advantage” amid the growing AI power demand.
“My thesis centers on access to power as one of the biggest constraints facing the AI infrastructure buildout and a bottleneck that should only intensify as falling AI costs drive greater usage and demand,” which he believes Bloom is well-positioned to capitalize on.
Strategist Warns On Lack Of Full Transparency
He added that he still lacks “full transparency into scandium requirements per gigawatt, Bloom’s inventory or contracted supply, where the material originates and how the economics change as production scales which is why I’m keeping the position speculative.”
Earlier this month, short-seller Hunterbrook Capital published a detailed report on the company, accusing it of hiding its heavy reliance on Chinese suppliers for scandium.
The fuel-cell-based energy provider reported earnings of $0.78 per share on revenue of $1.07 billion for Q2, surpassing Wall Street expectations.
BE Stock: Wall Street Stance
Clear Street upgraded Bloom Energy to Buy from Hold with a $290 price target, as per TheFly. This implies an upside of about 77% from its last close.
The analyst said that the recent stock price pullback, due to softening sentiment for AI-related stocks over the past month along with other causes, provides “ample upside” to the firm’s price target.
However, multiple other analysts lowered their targets on Bloom Energy, although still implying a massive upside to its previous close.
| Analyst | Price Target | Rating | Upside |
| UBS | $300 | Buy | 83.20% |
| Roth Capital | $225 | Neutral | 37.40% |
| JPMorgan | $314 | Overweight | 91.80% |
| BMO Capital | $227 | Market Perform | 38.60% |
| Jefferies | $188 | Hold | 14.80% |
| Truist | $218 | Hold | 33.10% |
As per data from Koyfin, 28 analysts have an average price target of $280.29 on BE shares, implying an upside of about 71% from current levels.
BE Stock: Retail Stance
On Stocktwits, retail sentiment around BE stock was ‘extremely bullish’ amid ‘extremely high’ message volumes.
One user said, “$BE Great company! False narrative out there by Europe about US along with shorts trying to scare people. Strong earnings by companies will lead to bounce in good companies share prices.”
Another user said, “$BE caught in the currents today. will bounce back to close Friday bright green.”
BE stock is up nearly 66% so far this year.
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Also Read: Why Bloom Energy May Be Emerging As The ‘Power’ Layer Behind AI Boom: 5 Takeaways From Its Record Quarter