In a report released today, Andrew Percoco from Morgan Stanley maintained a Buy rating on Bloom Energy (BE – Research Report), with a price target of $28.00.
Andrew Percoco has given his Buy rating due to a combination of factors, primarily the significant partnership Bloom Energy has formed with Chart Industries for carbon capture technology. This collaboration is poised to enhance the deployment of Bloom Energy’s fuel cells by enabling near zero-carbon power solutions, particularly important for data centers looking to meet emission targets.
Additionally, positive insights from AEP’s earnings call and regulatory filings further strengthen the outlook for Bloom Energy. These developments suggest that Bloom’s solid oxide fuel cells, when paired with carbon capture, present a compelling option for data centers seeking clean and reliable energy sources. The strategic partnership and the favorable market conditions contribute to a bullish outlook, justifying the increased bull case target.