Overview
- Jefferies lifted its price target on Bloom Energy to $53 from $31 but maintained an Underperform rating, citing unresolved questions about joint-venture profitability.
- Analysts expect Bloom to disclose its backlog in the fourth quarter, which they say should clarify potential sales for 2026 and 2027 and the timing of deployments.
- Bloom and Brookfield Asset Management announced plans for up to $5 billion to deploy Bloom’s fuel-cell systems for AI data centers.
- Bloom reported Q3 revenue up 57% year over year with gross margin at 29.2%, an operating profit of $7.8 million, and nearly $20 million in operating cash flow.
- Shares rose about 57% in October and roughly 300% over three months as the company confirmed plans to double manufacturing capacity to 2 gigawatts by the end of 2026.