Analysts Remain Optimistic on Bloom Energy (BE)

Bloom Energy Corp. (NYSE:BE) is one of the 10 Best Energy Stocks Capitalizing on the Data Center Boom. On June 10, Morgan Stanley analyst David Arcaro reiterated a Buy rating on Bloom Energy with a $310 price target, according to a report by TipRanks.

A Bloom Energy power generation system. Photo from Bloom Energy website

On the same day, TheFly reported that Morgan Stanley remains optimistic about Bloom Energy despite reports that Crusoe paused its development activities at a 1.8 GW data center campus in Cheyenne, WY, which was designed to be partly powered by 900 MW of Bloom fuel cells.

Morgan Stanley said contractual provisions with Bloom Energy customer, AEP, should protect the firm’s earnings over the delivery schedule. The analyst maintained confidence in Bloom Energy’s full-year and medium-term forecasts.

Based on 31 analyst ratings compiled by CNN, 45% assigned a Buy rating to Bloom Energy, while another 45% assigned a Hold rating. The stock has an average price target of $280, representing a 7.85% upside from the current price of $259.61.

Bloom Energy Corp. (NYSE:BE) is engaged in the manufacture and installation of solid oxide fuel cell systems, which provide ultra-resilient, highly scalable onsite electricity.

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