Baird Lifts Price Target on Bloom Energy (BE) to $61, Maintains Outperform

Core Viewpoint - Bloom Energy Corp. (NYSE:BE) is recognized as a strong candidate for day trading due to its high volatility and significant price appreciation over the past year and year-to-date [1]. Group 1: Stock Performance - The stock has experienced a remarkable increase of 450% over the past year and more than 140% year-to-date [1]. - The stock has a high beta of 3.4 and an average daily trading range of approximately 7%, making it appealing for day traders [1]. Group 2: Analyst Ratings and Price Targets - Baird analyst Ben Kallo raised the price target for Bloom Energy from $45 to $61 while maintaining an Outperform rating, following a visit to the company's manufacturing facility [2]. - This price target revision came after Kallo had previously increased the target from $22 to $45 on August 1, after the Q2 earnings report [3]. - BTIG's Gregory Lewis reiterated a Buy rating with a target of $42, citing strong product sales that exceeded expectations [3]. Group 3: Company Growth and Strategy - Bloom Energy plans to double its U.S. manufacturing capacity by 2026, supported by favorable legislation that includes tax credit incentives [4]. - The recent exchange of convertible notes has alleviated near-term financing pressures for the company [4]. - Partnerships with utilities, such as American Electric Power, are expanding commercial opportunities for Bloom Energy [4]. Group 4: Company Overview - Bloom Energy specializes in solid oxide fuel cell technology, providing efficient, low-carbon power generation solutions for commercial and industrial clients [5].