Bloom Energy price target raised to $19.50 from $12 at BMO Capital

BMO Capital raised the firm’s price target on Bloom Energy (BE) to $19.50 from $12 and keeps a Market Perform rating on the shares. The firm cites the company having signed a supply agreement with American Electric Power (AEP) to purchase up to 1.0 GWs of BE’s solid oxide fuel and believes the stock will react very positively, though it is also noting “several uncertainties of the transaction” as the cadence of remaining 900 MWs is uncertain, the analyst tells investors in a research note.