Bloom Energy Corporation (NYSE:BE) is one of the AI Stocks Making Waves on Wall Street. On July 9, JPMorgan upgraded the stock to “Overweight” from Neutral with a $33 price target, hiked from $18. JPMorgan said that the energy company is a beneficiary of the Big Beautiful Bill.
“We are upgrading BE to Overweight from Neutral.”
The firm believes this qualification should lead to upside to consensus revenue and margin estimates beginning in FY 2026.
“We believe the tax credit should provide pricing power for BE in conversations with data centers, while also increasing demand from more price sensitive (non-data center) customers.”
It also added that factors such as rising gas turbine prices and long lead times may lead hesitant buyers to commit.
“As competing gas turbine pricing and lead times remain elevated, we believe the tax credits for fuel cells can push hesitant BE customers over the finish line and expect order activity to increase accordingly.”
-Strouse wrote, albeit some uncertainties.
Bloom Energy Corporation 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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