BUZZ-BofA raises PT on fuel-cell maker Bloom Energy on higher demand
BUZZ-BofA raisesPT on fuel-cell maker Bloom Energy on higher demand ** Brokerage BofA Global Research raises PT on fuel-cell maker Bloom Energy BE.N to $39 from $26 ** New PT still represents a 59% downside to the stock's last close of $95.56, while the median PT is $122 ** Brokerage expects nearly 40% megawatt CAGR through 2028 to reflect demand uptick** Brokerage adds that the "bottoms-up analysis highlights that sustaining this trajectory beyond 2027 requires a significant increase in new awards, introducing material execution risk" ** BofA expects Bloom's equity contributions to total roughly $310 million through 2029 ** "The balance sheet appears well-supported following the $2.5B convert, providing flexibility for higher capex and working capital"- BofA ** 13 of 25 brokerages rate the stock "buy" or higher, 10 "hold" and 2 "sell" or lower ** Up to last close, shares up 330% YTD
