JPMorgan raised its price target for Bloom Energy (NYSE:BE) to $346 from $267. The firm maintains an Overweight rating on the shares.
Analysts project 4.1 gigawatts of total deliveries through 2030. An expanded partnership with Brookfield supports this long-term growth outlook.
Revenue growth remains robust despite recent pressure on the stock price. JPMorgan identifies upcoming contract announcements as the primary near-term catalysts.
The bank expects progress updates on major projects with AEP and Oracle. The report also addressed recent short-seller concerns regarding scandium supply.