Bloom Energy price target raised to $21 from $19 at BTIG

BTIG raised the firm’s price target on Bloom Energy to $21 from $19 and keeps a Buy rating on the shares. The “data center gold rush” driven by artificial intelligence that has accelerated and highlighted the growing need for data centers is “in the early innings,” the analyst tells investors in a research note. The firm says access to or lack of power “has been smacking the market in the face,” first with Bloom Energy (BE) securing a contract with Intel (INTC) to provide power to a data center in California last month, and earlier this week Core Scientific (CORZ) signed an agreement to supply 200MW of power to CoreWeave.