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Investing.com - RBC Capital raised its price target on Bloom Energy Corp. (NYSE:BE) to $75.00 from $35.00 on Thursday, while maintaining an Outperform rating on the stock. The company’s shares, currently trading at $62.96, have delivered an impressive 183% return year-to-date, though InvestingPro analysis suggests the stock is trading above its Fair Value.
The significant price target increase reflects RBC’s growing confidence in Bloom Energy’s long-term demand opportunities and growth potential in the energy sector.
RBC analyst Christopher Dendrinos noted that recent investor conversations have focused on framing the long-term opportunity for Bloom Energy and its pathway to higher growth rates.
The analyst identified near-term growth drivers for Bloom Energy as its "time to power advantage" and high reliability offerings, which continue to differentiate the company in the market.
RBC’s new price target represents a multiple of 14 times the firm’s 2028 EV/EBITDA estimates, compared to the previous target which was based on 15 times 2027 estimates.
In other recent news, Bloom Energy reported its second-quarter 2025 earnings, significantly surpassing analyst expectations. The company achieved an earnings per share of $0.10, well above the forecasted $0.01, with revenue reaching $401.2 million, exceeding projections of $376.24 million. In another development, Mizuho raised its price target for Bloom Energy to $48.00 from $31.00, maintaining an Outperform rating, citing increased manufacturing capacity to meet data center power demand. Meanwhile, Jefferies maintained its Hold rating on Bloom Energy, with a price target of $24.00, noting various potential catalysts for recent stock movement. Additionally, Bloom Energy announced the appointment of Aaron Hoover, a former Morgan Stanley executive, to lead business and corporate development. The company also welcomed Jim Hagemann Snabe to its Board of Directors, who brings extensive experience from his previous roles at SAP and Siemens AG. These developments reflect Bloom Energy’s strategic initiatives and leadership changes amid its strong financial performance.
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