Bloom Energy stock price target raised by Evercore ISI to $137 on Brookfield deal

Investing.com - Evercore ISI raised its price target on Bloom Energy Corp. (NYSE:BE) to $137.00 from $100.00 on Monday, while maintaining an Outperform rating following the company’s announcement of a $5 billion strategic AI infrastructure partnership with Brookfield. The stock, which has delivered an impressive 709% return over the past year and currently commands a market capitalization of $25.7 billion, is trading at premium valuations according to InvestingPro data.

The partnership, announced Monday morning, represents the first phase of a joint vision to build AI factories capable of meeting growing compute and power demands. This marks Brookfield’s first investment through its dedicated AI Infrastructure strategy, which builds upon more than $100 billion the firm has invested globally in digital infrastructure.

Evercore ISI noted that while details about the partnership remain relatively scarce, more information is expected during Bloom Energy’s third-quarter earnings call scheduled for October 28, 2025. The firm emphasized that "speed to power is paramount" in the current market environment.

Bloom Energy’s solid oxide fuel cell technology provides a behind-the-meter solution that delivers reliable, scalable, and clean on-site power that can be rapidly deployed without relying on the legacy grid, according to the research note.

Evercore ISI’s new price target assumes approximately a 37.5x EV/EBITDA multiple applied to its 2028 estimated adjusted EBITDA for Bloom Energy, reflecting continued bullishness on the company’s ability to provide "a less carbon intensive, dispatchable, modular and expedited power solution to address large loads."

In other recent news, Bloom Energy announced a strategic $5 billion partnership with Brookfield to develop AI infrastructure using Bloom’s fuel cell technology. This agreement positions Bloom as the preferred onsite power provider for Brookfield’s global AI factories, with collaborative projects underway, including a European site slated for announcement by year-end. Evercore ISI has initiated coverage of Bloom Energy with an Outperform rating and a $100 price target, highlighting the company’s ability to meet current power demands through its versatile fuel cell technology and strong ties with utilities and AI firms. UBS has reiterated its Buy rating and $105 price target, as Bloom Energy plans a significant data center project in Wyoming, utilizing its solid oxide fuel cells for up to 900 MW capacity. RBC Capital also maintains an Outperform rating and a $75 price target, emphasizing a major power plant project in Wyoming, which would support a 1.8 GW data center. These developments underscore Bloom Energy’s growing influence in the energy sector and its strategic moves to leverage its technology in AI and data center markets.

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