RBC Capital reiterated an ‘Outperform’ rating and $335 price target on Bloom Energy on Monday, implying an upside of nearly 28% from the last close.
- The analyst’s rationale revolved around Bloom’s Fremont facility, which added 158,000 sq ft of floor space.
- The lease of additional manufacturing floor space is a positive indicator of strong demand and highlights the strength of Bloom’s pipeline, the firm said.
- Bloom Energy also said it is scaling its Fremont, California, manufacturing capacity from 1 gigawatt (GW) to an annualized 2 GW by the end of 2026, with existing facilities capable of expanding to a theoretical 5 GW.
Shares of Bloom Energy Corp. (BE) fell nearly 9% at close on Monday, its worst decline since Aug. 18, extending declines on concerns about Oracle’s (ORCL) Project Jupiter facing potential delays at a site where the company is expected to provide power.
Despite the recent declines, according to The Fly, RBC Capital reiterated an ‘Outperform’ rating and a $335 price target on Bloom Energy on Monday. The target implies nearly 28% upside from the last close.
BE Stock: RBC’S Rationale
The analyst’s rationale revolved around Bloom’s Fremont facility, which added 158,000 sq ft of floor space. RBC Capital compared it to the company’s current footprint of 164,000 sq ft, where Bloom is currently ramping manufacturing capacity.
The lease of additional manufacturing floor space is a positive indicator of strong demand and highlights the strength of Bloom’s pipeline, the firm said. The capacity expansion could indicate demand that is above its current forecast.
Bloom Energy leased a new 89,000-square-foot research and development and manufacturing facility in Fremont, California, that became operational in April 2021, and leased a new 164,000-square-foot manufacturing facility in Fremont, California, that expires in February 2036.
Recently, Bloom Energy also said it is scaling its Fremont, California, manufacturing capacity from 1 gigawatt (GW) to an annualized 2 GW by the end of 2026, with existing facilities capable of expanding to a theoretical 5 GW.
Project Jupiter Concerns
Last week, Bloom Energy said it had spoken with Oracle and reiterated that the company remains committed to Project Jupiter and its contract with Bloom to deliver 2.4 GW of fuel cell capacity. Bloom also added it expected to execute the project on Oracle’s planned timeline.
The statement followed reports that Oracle had issued a force majeure notice to the developer of the New Mexico data center campus which was to support OpenAI workloads. The notice raised concerns about potential delays at the site.
In July 2025, Bloom and Oracle announced plans to deploy fuel cells at selected Oracle Cloud Infrastructure data centers in the U.S. They later expanded the relationship in April under a master agreement, through which Oracle said it intended to procure up to 2.8 GW of Bloom fuel cell systems.
Regulatory and construction hurdles, and permitting setbacks have pushed its expected in-service date to February 2027. An air-quality permit at the facility is also pending.
Retail Stance On BE Stock
On Stocktwits, retail sentiment around BE stock was ‘bullish’ at the time of writing amid ‘high’ message volumes.
One user said, “$BE the market gave us a new opportunity today to buy cheap after the 10% jump on Friday.”
Another user said, “$BE back up tomorrow.”
BE stock has gained more than 166% year-to-date.
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