Analysts Raise Price Targets on Bloom Energy (BE) After Q4 Results

Bloom Energy Corporation (NYSE:BE) is one of the 15 AI Stocks That Are Skyrocketing. On February 6, BTIG increased its price target on Bloom Energy Corporation (NYSE:BE) from $145 to $165 and maintained a Buy rating. This update came after the company reported its fourth-quarter earnings.

BTIG analyst Gregory Lewis highlighted that demand for prompt power solutions is “broad based” across many customer groups, including data centers and commercial and industrial clients. The analyst noted that Bloom Energy Corporation (NYSE:BE) is “positioned to take advantage thanks to its spare capacity and operating leverage.”

On February 6, TD Cowen also raised its price target on Bloom Energy Corporation (NYSE:BE) from $105 to $160 but kept its Hold rating. The research firm pointed to accelerating power demand from data centers and commercial and industrial customers, which helped drive a 140% increase in the company’s backlog.

TD Cowen praised Bloom Energy Corporation’s (NYSE:BE) “phenomenal” execution. However, the firm also noted that there are concerns about the company’s current valuation, which influenced its decision to keep a Hold rating.

Bloom Energy Corporation (NYSE:BE) designs and manufactures fuel cell systems for on-site power generation for data centers, semiconductor manufacturing, large utilities, and other commercial and industrial sectors.

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Disclosure: None. This article is originally published at Insider Monkey.