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Investing.com - UBS raised its price target on Bloom Energy Corp . (NYSE:BE) to $41.00 from $29.00 on Friday, while maintaining a Buy rating on the stock. The new target represents potential upside from the current price of $34.34, with the stock already showing impressive momentum, gaining over 37% in the past week alone. According to InvestingPro data, BE is trading near its 52-week high of $34.78.
The price target increase follows Bloom Energy’s announcement that it will collaborate with Oracle (NYSE:ORCL) to deliver on-site power to Oracle AI data centers within 90 days.
Under the agreement, Bloom will deploy its fuel cell technology at select Oracle Cloud Infrastructure (OCI) data centers in the United States, providing clean power with virtually no air pollution and no water usage.
The fuel cell systems will contribute to Oracle’s use of sustainable energy sources to power Oracle Cloud, joining OCI’s existing energy portfolio to support its AI infrastructure with reliable, clean power.
Oracle continues to experience strong global demand for OCI services across its data center portfolio, including its large gigawatt AI data centers, where customers expect to run AI workloads and applications at peak performance.
In other recent news, Bloom Energy has announced a collaboration with Oracle to provide onsite power to Oracle Cloud Infrastructure data centers in the U.S. using its fuel cell technology. This partnership is expected to enhance the reliability and cost-efficiency of power delivery to Oracle’s data centers, supporting the increasing demand for AI and cloud computing services. Additionally, UBS has reaffirmed its Buy rating on Bloom Energy, citing plans by Amazon (NASDAQ:AMZN) Web Services to deploy Bloom’s energy servers at a new data center facility. In another development, JPMorgan has upgraded Bloom Energy from Neutral to Overweight, increasing the price target from $18.00 to $33.00. This upgrade follows Bloom Energy’s fuel cells qualifying for 48E tax credits under recent legislation, which could positively impact revenue and margins starting in fiscal year 2026. Meanwhile, BofA Securities has maintained its Underperform rating on Bloom Energy, expressing concerns about the company’s ability to scale beyond pilot projects. These developments highlight a mix of optimism and caution surrounding Bloom Energy’s future prospects in the data center power market.
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