BE - Why Bloom Energy Stock Keeps Going Up
2024-05-22 11:08:56 ET
Bloom Energy (NYSE: BE) stock is on a roll. For four days in a row, shares of the fuel cell renewable energy pioneer have risen, including a monster 17% surge in value on Tuesday and a further 11.7% spike through 10:15 a.m. ET this morning.
You can thank Wall Street for keeping the good times rolling. On Monday, Wells Fargo raised its price target on Bloom stock to $14 a share. On Tuesday, RBC Capital reiterated its own buy rating -- also with a $14 price target .
Wells Fargo started the rally with its Monday note touting rising demand for Bloom Energy's fuel-cell-powered electricity generators to power cloud data centers . The "timing of larger deals is uncertain," cautions the analyst. Still, Wells sees sales growing in 2025 and wants to get ahead of the curve.
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Why Bloom Energy Stock Keeps Going Up