Jefferies cuts Bloom Energy stock price target to $21 from $22

On Wednesday, Jefferies analyst Lloyd Byrne adjusted the price target for Bloom Energy Corp . (NYSE:BE) shares, reducing it to $21.00 from the previous $22.00 while maintaining a Hold rating on the stock. Currently trading at $23.11 with a market cap of $5.3 billion, BE’s analyst targets range from $13 to $33, with consensus leaning towards Hold. The revision comes amid expectations of a fourth-quarter performance that surpasses forecasts, with revenues anticipated to be approximately 6% higher than consensus estimates.According to InvestingPro analysis, BE appears overvalued at current levels, with 13 additional key insights available to subscribers.

Looking ahead to 2025, Byrne projects that Bloom Energy will set its revenue guidance between $1.7 billion and $1.9 billion. The analyst pointed out that the market’s attention in the first quarter will likely pivot to details from American Electric Power (NASDAQ:AEP), rather than Bloom Energy itself. The resolution of pending data center tariffs in Ohio is seen as a pivotal element that could influence the company’s risk profile concerning the remaining approximately 900 megawatts.

Furthermore, Byrne anticipates that additional information regarding SK receivables and discussions with other data centers following the expiration of the Investment Tax Credit ( ITC (NSE:ITC)) will be sought after for further clarity. These factors are considered to be significant in assessing the financial outlook and operational risks for Bloom Energy in the near term.

Bloom Energy, known for its solid oxide fuel cell technology, provides clean, reliable, and affordable energy to various industries. The company maintains a healthy current ratio of 3.36 and operates with moderate debt levels. The company’s performance and growth prospects are closely monitored by investors, especially in the context of the evolving energy landscape and regulatory environment, with the stock showing strong momentum through a 112% return over the past six months.

In other recent news, Bloom Energy Corp has been the focus of various analyst firms. Piper Sandler increased its price target on Bloom Energy to $33, maintaining an Overweight rating, reflecting a positive outlook on the company’s growth potential and market opportunities. Similarly, Baird raised its price target to $32 from $15, maintaining an Outperform rating, encouraged by recent utility deals and a surge in investor interest.

Roth/MKM initiated coverage on Bloom Energy with a Neutral rating and a price target of $25, highlighting the company’s leading role in the hydrogen fuel cell industry and its established technology. However, the firm adopted a cautious stance due to the current stock valuation.

BofA Securities raised its price target for Bloom Energy to $20, yet kept an Underperform rating. The firm acknowledged Bloom Energy’s recent successes in securing substantial orders but noted potential execution risks in the company’s operations.

Finally, RBC Capital Markets reiterated an Outperform rating on Bloom Energy with a steady price target of $28, expressing confidence in the company’s business model and its potential for growth amid a favorable market for clean energy solutions. These developments indicate a generally positive outlook for the company among analysts, despite some cautionary notes.

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