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Thakkar said, according to The Fly, that BE’s price target revision came as part of a broader research note previewing Q3 results among Energy Infrastructure names.
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The firm is expected to report its Q3 results after market hours on Thursday.
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On Wednesday, BE stock closed more than 7% higher after SpaceX’s Elon Musk and Nvidia’s Jensen Huang highlighted the importance of electricity in the AI buildout cycle.
Ahead of its third-quarter earnings, Bloom Energy Corp. (BE) shares have soared more than 174% this year after posting its best climb in nearly a month on Wednesday’s close.
Meanwhile, BMO Capital analyst Ameet Thakkar raised Bloom Energy’s price target to $260 from $227 and maintained an ‘Outperform’ rating, implying about 9% upside from its last close.
The firm is expected to report its Q3 results after market hours on Thursday.
BE Stock: Analyst Hike Rationale
Thakkar said, according to The Fly, that BE’s price target revision came as part of a broader research note previewing Q3 results among Energy Infrastructure names.
The analyst said that power and gas demand outlook remains strong, but the path to capturing that growth is becoming increasingly differentiated.
Despite continued evidence of rising U.S. electricity demand, higher rates, and growing scrutiny around data-center affordability and permitting, increasingly selective investor positioning has driven considerable dispersion across coverage.
AI Experts Hype Up Power Infrastructure
On Wednesday, BE stock closed more than 7% higher after SpaceX’s Elon Musk and Nvidia’s Jensen Huang highlighted the importance of electricity in the AI buildout cycle.
Huang said on the sidelines of GTC Berlin that power would be “one of the major bottlenecks” for the AI buildout over the next couple of years.
“Now that we’re ramping up these AI factories around the world, power becomes increasingly so,” he reportedly said.
Meanwhile, Musk said during SpaceX’s (SPCX) third-quarter earnings call on Tuesday that the “constraint on deployment of superintelligence is more in power and cooling and infrastructure than it is in chips.”
Musk said that SpaceX aims to add 20 gigawatts (GW) of power and cooling capacity next year, and that the company plans to use “many different sources of power, not just gas turbines.”
Bloom Energy’s fuel cells have become one of the most coveted on-site power sources for AI companies in recent months.
