Morgan Stanley analyst Andrew Percoco has reiterated their bullish stance on BE stock, giving a Buy rating today.
Andrew Percoco has given his Buy rating due to a combination of factors that highlight Bloom Energy’s strong financial performance and promising future prospects. The company concluded a significant year with impressive fourth-quarter results, surpassing expectations in revenue, margins, and cash flow. This performance was bolstered by a substantial receivable from SK, resulting in a notable cash flow from operations.
Looking ahead, Bloom Energy’s management is optimistic about securing additional large supply agreements with utilities, similar to their existing deal with AEP. The company’s product backlog has grown significantly, and their revenue guidance for 2025 exceeds previous forecasts, indicating robust future growth. Despite concerns about the phase-down of the Investment Tax Credit, the safe harboring provisions allow customers to continue benefiting from tax credits, which management believes will not hinder demand. These factors collectively support the positive outlook for Bloom Energy, justifying the Buy rating.
In another report released today, Piper Sandler also maintained a Buy rating on the stock with a $31.00 price target.
Based on the recent corporate insider activity of 37 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BE in relation to earlier this year.