Tiger Brokers

BUZZ-BofA raises PT on fuel-cell maker Bloom Energy on higher demand

Reuters
Nov 25
BUZZ-BofA raises PT 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 (MW) 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

(Reporting by Varun Sahay in Bengaluru)

((Varun.sahay@thomsonreuters.com;))

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