Bloom Energy Corporation (NYSE:BE) is one of the Hottest Large-Cap Stocks to Buy Now. On October 13, Tim Moore from Clear Street raised the firm’s price target on Bloom Energy Corporation (NYSE:BE) from $37 to $43, while maintaining a Hold rating on the stock.
The increased price target follows the company’s announcement of a strategic AI infrastructure partnership with Brookfield on October 13. The partnership is worth $5 billion to build AI factories that are capable of meeting the growing demand for artificial intelligence.
The analyst noted that this marks the first solely AI-dedicated investment strategy by Brookfield. Moreover, Moore sees this as a major catalyst for Bloom Energy Corporation as he expects the company to become the preferred onsite power provider due to this new partnership.
Bloom Energy Corporation engages in stationary fuel cell generation that generates clean and reliable electricity.
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This article is originally published at Insider Monkey.