HSBC initiated coverage of Bloom Energy with a Buy rating and $22 price target. Hydrogen is an enabling fuel and technology for a clean economy, the analyst tells investors in a research note. The firm sees U.S. clean hydrogen production capacity accelerating on the back of billions of dollars in federal stimulus. Bloom is a focused play on solid oxide fuel cells and electrolyzers, and with manufacturing capacity to scale, the analyst tells investors in a research note.
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Read More on BE:
- Bloom Energy call volume above normal and directionally bullish
- The Future of Hydrogen Power Is Here — and These Stocks Are Leading the Charge
- Bloom Energy price target lowered to $18 from $20 at Truist
- Bloom Energy backs FY23 revenue view $1.4B-$1.5B, consensus $1.47B
- Bloom Energy reports Q2 adjusted EPS (17c), consensus (14c)
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