RBC Capital Lifts Bloom Energy (BE) Target to $123 on Strong Long-Term Outlook

Core Insights - Bloom Energy Corporation (NYSE:BE) has seen a price target increase from RBC Capital analyst Christopher Dendrinos to $123.00 from $75.00, maintaining an "Outperform" rating due to stronger confidence in the company's long-term opportunities [1][3] - The firm highlighted Bloom's robust revenue growth of 22.7% over the last twelve months, supporting a positive outlook for the company [2] - RBC Capital emphasized the early development stage of the behind-the-meter (BTM) datacenter market, which Bloom is well-positioned to capitalize on [2][3] Company Performance - Bloom Energy develops solid-oxide fuel cell systems aimed at on-site power generation, catering to the increasing energy demands of AI data centers [3] - The recent partnership with Brookfield is seen as evidence of Bloom's competitive edge in the market, despite acknowledging the competitive dynamics within the sector [2][3] Market Dynamics - RBC Capital's analysis reflects an optimistic view on the growing total addressable market (TAM) for Bloom Energy, suggesting that the stock is currently priced for incremental capacity increases [3] - The firm believes that the upside opportunity in the BTM datacenter market is favorable, indicating potential for significant growth [3]