BUZZ-Street View: Brokerages raise PT on Bloom Energy after Q4 profit beat

Reuters
02-28
BUZZ-Street View: Brokerages raise PT on Bloom Energy after Q4 profit beat

** Fuel-cell maker Bloom Energy BE.N beats Q4 adjusted profit estimates on Thursday helped by robust demand

** BE posts Q4 adj earnings of 43 cents per share vs est of 30 cents per share - data compiled by LSEG

** 10 of 23 brokerages rate the stock "buy" or higher, 12 "hold" and 1 "sell"; their median PT is $25 - data compiled by LSEG

EXPECTS POSITIVE OUTLOOK AND DATA CENTER OPPORTUNITIES

** TD Cowen ("Hold") raises PT to $20 from $13, sees a multitude of options for data centers to meet their power needs and believes BE's role will become potentially clearer through 2025

** J.P. Morgan ("Neutral") raises PT to $18 from $16, says BE's Q4 results and 2025 guidance was above expectations, with headline product backlog flat year-on-year

** Raises PT as customers are locking in investment tax credits (ITC) on BE's projects through the end of 2028. ITC provides financial incentives to invest in renewable energy projects

** Roth Capital Partners ("Neutral") raises PT to $26 from $25, sees BE’s position as favorable with established technology that can be rapidly deployed in markets that are increasingly grid-constrained

(Reporting by Pooja Menon in Bengaluru)

((Pooja.Menon@thomsonreuters.com;))

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