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Bloom Energy price target raised to $22 from $11 at Truist

Bloom Energy price target raised to $22 from $11 at Truist

Truist raised the firm’s price target on Bloom Energy (BE) to $22 from $11 but keeps a Hold rating on the shares as part of a broader research note providing its 2025 outlook for our Energy Transition/Sustainability sector. The firm contends that while policy revisions and pullbacks from the Trump administration will be less punitive than currently implied by group multiples, it prefers to be “highly selective” into the first 100 days of the new government, the analyst tells investors in a research note. For the company, Truist notes the robust power demand created by data centers and associated higher trading multiples, but also believes that gaining scale in the datacenter market will take time and is not without potential nearer-term headwinds.

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