Bloom Energy price target lowered to $20 from $21 at Evercore ISI

Evercore ISI analyst James West lowered the firm’s price target on Bloom Energy to $20 from $21 and keeps an Outperform rating on the shares. Bloom Energy is executing on an aggressive multi-year growth strategy and the firm believes Bloom’s “robust execution,” improving margins and profitability, and solid balance sheet and liquidity, combined with favorable legislation tailwinds, position the company well, the analyst tells investors in a post-earnings note.