Bloom Energy Downgraded To Neutral At Mizuho

Core Viewpoint - Mizuho downgraded Bloom Energy Corp. from Outperform to Neutral while raising its price target to $79.00 from $48.00, citing improved demand visibility but also production capacity constraints [1] Group 1: Company Performance and Projections - Bloom Energy is on track to expand its Fremont facility to 2 GW per year by the end of 2026, with potential increases to 3 GW annually by 2027 and 5 GW by 2029, depending on capital expenditure levels [2] - Mizuho estimates that equipment sales volume could grow at a 53% CAGR between 2025 and 2030, indicating strong future demand [2] - Additional growth opportunities may arise from new facilities or contract manufacturers, but Mizuho advises waiting for a multi-year backlog before committing to new capacity [2] Group 2: Market Dynamics - The company's ~900-MW project in Wyoming is highlighted as an early-stage signal for capacity expansion needs, reflecting the growing demand from utility-scale data center orders [1]