Piper Sandler upgraded Bloom Energy (BE) to Overweight from Neutral with a price target of $20, up from $10. The firm says the scale of the agreement with American Electric (AEP) provides proof of concept that Bloom’s product can be utilized to power large-scale datacenters and could open the door to future arrangements with other utilities. With estimates likely biased higher in 2025 and beyond, Bloom’s multiple should re-rate and the company could “join the ranks of other bona fide datacenter equipment plays” that trade at 20-times Street estimates, As previously reported,
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BE:
- Bloom Energy signs fuel cell agreement with AEP for AI data centers
- American Electric deal a ‘big win’ for Bloom Energy, says Evercore ISI
- American Electric in pact for up to 1 GW of Bloom Energy solid oxide fuel cells
- Bloom Energy trading halted, news pending
- Bloom Energy price target raised to $16 from $13 at Susquehanna