Why This Bloom Energy Analyst Says The Company Could Blossom In 2024
Portfolio Pulse from Priya Nigam
Bloom Energy Corp (NYSE:BE) has entered into a sales agreement with SK Ecoplant for its electrolyzer technology, which is expected to generate significant revenues over the next 20 years. Baird analyst Ben Kallo upgraded Bloom Energy's rating to Outperform and raised the price target from $16 to $22, citing catalysts such as cost reductions, manufacturing improvements, and electrolyzer sales for 2024. Shares of Bloom Energy rose by 1.13% to $13.47 following the announcement.
January 10, 2024 | 6:20 pm
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POSITIVE IMPACT
Bloom Energy's deal with SK Ecoplant and positive outlook from Baird analyst Ben Kallo, including an upgraded rating and increased price target, are strong indicators of potential growth and improved financial performance in 2024.
The upgrade by Baird analyst Ben Kallo is a strong vote of confidence in Bloom Energy's future prospects, particularly with the new partnership expected to generate substantial revenues. The raised price target reflects an anticipation of stock price appreciation, which is likely to positively influence investor sentiment and the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100