BofA raised the firm’s price target on Bloom Energy (BE) to $20 from $18 and keeps an Underperform rating on the shares. Despite a “solid” Q4 earnings beat, the firm came away with more questions than answers, as backlog and order rates disappointed, and 2025 demand post-ITC expiration remains unclear. In addition to changing the backlog reporting, the company also removed MW acceptance and product economics disclosures, the analyst says, adding that while these metrics had flaws, the firm sees it as a step in the wrong direction for transparency at a critical juncture for the company.
Bloom Energy price target raised to $20 from $18 at BofA
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