Bloom Energy (BE) Stock in Focus: Jefferies Sticks With Hold Amid Growth Catalysts

Bloom Energy Corporation (NYSE:BE) is one of the AI Stocks Analysts Are Watching Closely. On August 18, Jefferies analyst Lloyd Byrne reiterated a Hold rating on the stock with a $24.00 price target.

The firm quoted several potential catalysts working in favor of the stock, including a letter from PJM Interconnection, the CEO’s Bloomberg interview, and potential read-throughs from Crowdstrike earnings.

It also estimated that investors may be expecting around 1GW of sales in 2027. The firm considers this target a possibility due to Bloom Energy’s capacity expansion to 2GW by year-end 2026.

“We estimate the buyside could be baking in ~1GW of sales in ’27. With BE expanding capacity to 2GW (1.3GW for product, rest for service) by YE26, hitting that target is possible. However, cadence and timing of deals matter, and we question whether investors are getting ahead of themselves. With BE +20% last week: expectations are ramping with DC deal & efforts by PJM to require new supply with new load. At current levels, we try to determine implied volumes. The stock is currently trading at ~22x ’27E EBITDA of $526mn. The median multiple for data center / hyperscalers adjacent cos is ~18x (Ex – 2). To justify a more ‘normalized’ multiple, investors might be baking much higher EBITDA growth vs sell-side cons.”

Bloom Energy Corporation (NYSE:BE) develops solid-oxide fuel cell systems for on-site power generation, helping meet the growing energy demands of AI data centers.

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