Bloom Energy (BE) Soars 18% as JPMorgan Turns Bullish

Bloom Energy Corporation (NYSE:BE) is one of the 10 Stocks Going Wild.

Bloom Energy soared by 18.15 percent on Wednesday to finish at $28.71 apiece as investors cheered JPMorgan’s bullish rating revision for its stock.

In a market note, JPMorgan raised its stock rating for Bloom Energy Corporation (NYSE:BE) to “overweight” from “neutral” previously, with an 83-percent price target bump to $33 from $18 prior. The new figure marked a 14.9-percent upside from Bloom Energy Corporation’s (NYSE:BE) latest closing price.

According to JPMorgan, the upward revision was based on the reinstatement of federal tax credits for fuel cells under the One Big Beautiful Bill Act, where the inclusion of fuel cells under the 48E investment tax credit should improve the company’s pricing power and drive higher demand.

A bird’s eye view of a power generation platform with a power plant in the background.

With the inclusion, Bloom Energy Corporation (NYSE:BE) is expected to accelerate its revenues and margin growth beginning next year, with JPMorgan projecting EBITDA to $420 million on $2.21 billion revenues.

“We believe the tax credit should provide pricing power for [Bloom Energy Corporation (NYSE:BE)] in conversations with data centers, while also increasing demand from more price-sensitive (non-data center) customers,” the investment firm said.

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