Bloom Energy price target raised to $20 from $19 at KeyBanc

KeyBanc raised the firm’s price target on Bloom Energy to $20 from $19 and keeps an Overweight rating on the shares. The firm highlights Bloom Energy as a top idea within its Clean Tech coverage. Bloom Energy’s fuel cells have proven commercial viability, come with an IP moat, and the company is expected to be op. margin positive in 2023. Trading at about 2.5-times 2024 sales, Bloom Energy is an attractive energy transition investment, in KeyBanc’s view.