Bloom Energy Surges on Q3 Beat as BTIG Lifts Target on AI Data‑Center Wins

Overview

• The fuel‑cell maker reported $519 million in third‑quarter revenue, topping estimates by roughly 21%, according to BTIG.
• BTIG raised its price target to $145 and reiterated a Buy rating, citing growing pipeline visibility.
• The firm highlighted a roughly 900 MW Wyoming data‑center project awarded in Q3, with construction possibly starting in 2026.
• Bloom entered a partnership with Brookfield for up to $5 billion of fuel‑cell capacity to support data‑center buildouts.
• BTIG expects Fremont’s spare manufacturing capacity to see higher utilization and to convert into firm backlog as projects advance.