Insightful Word
  • Investing
  • Stock
  • Economy
  • Politics
  • Investing
  • Stock
  • Economy
  • Politics
No Result
View All Result
Insightful Word
No Result
View All Result
Home Politics

Bloom stock poised for massive gains after AEP deal, analyst says

admin by admin
November 16, 2024
in Politics
0
Bloom stock poised for massive gains after AEP deal, analyst says
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter

Bloom Energy Corp (NYSE: BE) announced a supply agreement with American Electric Power Company Inc (NASDAQ: AEP) for up to 1 gigawatt of its solid oxide fuel cells on Friday.

Shares of the renewable energy company opened about 50% up today.

AEP has ordered 100 MW of its fuel cells for now and is expected to place orders for more in 2025. Bloom Energy stock is now going for about $20 versus $9.0 only in late October.

Bloom Energy looks fairly positioned for revenue growth

Bloom Energy is a California-based maker of solid oxide fuel cells capable of running on 100% hydrogen or “any blend thereof with natural gas”.

A lower carbon footprint makes its solution “ideal for powering AI data centres”. Bloom already has power-capacity agreements in place with the likes of Intel and CoreWeave as well.

Last week, the New York-listed firm also partnered with SK Eternix on a project that it said would be the world’s largest fuel cell installation in history. KR Sridhar – the chief executive of Bloom Energy said in a press release today:

With our proven track record of more than 1.3 GW deployed, and a fully functional factory that can deliver GWs of products per year, we’re ready and able to meet the rapid electricity demand growth.

These recent developments may help improve its revenue that tanked more than 17% to $330 million in the third financial quarter – and an uptick in financials could translate to a higher stock price in 2025.

Bloom stock does not, however, pay a dividend at writing.

Piper Sandler upgrades Bloom stock

Also on Friday, Piper Sandler analyst Kashy Harrison upgraded Bloom Energy to “overweight” as the AEP agreement positions it for massive gains in the coming months.

Harrison expects this transaction to mean significant growth opportunities for BE even though the renewable energy names are broadly expected to struggle under the Trump administration.

That’s because Donald Trump has already vowed to repeal Joe Biden’s climate policies.

And while the 100 MW order from American Electric Power Company is in line with prior commentary, the Piper Sandler analyst recommends loading up on Bloom stock as “upside potential to 1-GW is literally 10x what we were expecting.”

He also expects Bloom Energy to win similar deals from other utility giants moving forward now that one of them has endorsed its technology.

Such agreements will likely push BE’s revenue up to $1.8 billion in 2025, according to Kashy Harrison.

Note that Piper Sandler is not the only investment firm that’s bullish on Bloom stock at writing.

The consensus rating on BE shares is “overweight” with the average price target of analysts currently set at $17. Bloom stock has already surpassed that level following the AEP news on Friday.

The post Bloom stock poised for massive gains after AEP deal, analyst says appeared first on Invezz

Previous Post

Nearly 10 million Indonesians fall out of middle class since 2019

Next Post

The many flavors of Ben & Jerry’s corporate activism

admin

admin

Next Post
The many flavors of Ben & Jerry’s corporate activism

The many flavors of Ben & Jerry’s corporate activism

Trending News

South Korea’s Hanwha Aerospace bets on global defence boom with major expansion plans

South Korea’s Hanwha Aerospace bets on global defence boom with major expansion plans

March 29, 2025
Fed’s rate cut offers limited relief for US factories facing China competition

Fed’s rate cut offers limited relief for US factories facing China competition

September 24, 2024
US stocks open in red amid Trump’s new tariff demands

US stocks open in red amid Trump’s new tariff demands

May 23, 2025
Subscribe to Insightful Word


    Recent News

    ARB eyes recovery as Arbitrum taps agentic DeFi revolution with $1M grant

    ARB eyes recovery as Arbitrum taps agentic DeFi revolution with $1M grant

    June 5, 2025
    Ripple releases $2.18B in XRP, price dips 2%

    Ripple releases $2.18B in XRP, price dips 2%

    June 5, 2025
    Nintendo Switch 2 launch sees shortages as 2.2M vie for units in Japan

    Nintendo Switch 2 launch sees shortages as 2.2M vie for units in Japan

    June 5, 2025
    Why Bank of America sees 13% upside on Roblox (RBLX)

    Why Bank of America sees 13% upside on Roblox (RBLX)

    June 5, 2025

    Recent News

    ARB eyes recovery as Arbitrum taps agentic DeFi revolution with $1M grant

    ARB eyes recovery as Arbitrum taps agentic DeFi revolution with $1M grant

    June 5, 2025
    Ripple releases $2.18B in XRP, price dips 2%

    Ripple releases $2.18B in XRP, price dips 2%

    June 5, 2025

    Latest News

    • ARB eyes recovery as Arbitrum taps agentic DeFi revolution with $1M grant
    • Ripple releases $2.18B in XRP, price dips 2%
    • Nintendo Switch 2 launch sees shortages as 2.2M vie for units in Japan

    About Insightful Word

    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools
    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools

    Copyright © 2025 Insightfulword.com. All Rights Reserved.

    No Result
    View All Result
    • Investing
    • Stock
    • Economy
    • Politics

    Copyright © 2025 Insightfulword.com. All Rights Reserved.