Bloom Energy price target lowered to $10 from $11 at Piper Sandler

Piper Sandler analyst Kashy Harrison lowered the firm’s price target on Bloom Energy (BE) to $10 from $11 on lower estimates, while keeping a Neutral rating on the shares. The firm notes investors remain focused on data center orders. Bloom Energy’s string of smaller project wins has favorably impacted customer deposits and Piper would expect continued progress on orders during Q3 given power demand tailwinds. Nonetheless, it remains unclear if Bloom Energy can finally deliver the elusive over 100MW order, the firm adds.