B of A Securities Downgrades Bloom Energy to Underperform, Lowers Price Target to $10
Portfolio Pulse from Benzinga Newsdesk
B of A Securities analyst Julien Dumoulin-Smith downgraded Bloom Energy (NYSE:BE) from Neutral to Underperform and reduced the price target from $16 to $10, indicating a bearish outlook on the company's stock.
January 29, 2024 | 12:32 pm
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Bloom Energy's stock may face downward pressure in the short term due to the downgrade from Neutral to Underperform by B of A Securities and a significant reduction in the price target from $16 to $10.
Downgrades by prominent analysts can lead to a negative perception among investors, potentially resulting in a sell-off. The substantial decrease in the price target further suggests a lack of confidence in the company's near-term growth prospects, which could exacerbate the stock's decline.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100