All Eyes on Bloom Energy’s (BE) Backlog as Jefferies Lifts PT but Keeps “Underperform”

Group 1 - Bloom Energy Corporation (NYSE:BE) has had its price target raised by Jefferies from $31.00 to $53.00 while maintaining an "Underperform" rating, primarily due to the recent BAM deal [1] - Brookfield Asset Management plans to invest up to $5 billion in Bloom's solid-oxide fuel cell technology, which is expected to support the development of AI-driven data centers [1][4] - The fourth quarter is anticipated to be crucial for investors as Bloom Energy is likely to disclose its backlog, which should ideally include a significant portion of sales for 2026 and 2027 [3][4] Group 2 - Despite the price target increase, Jefferies remains cautious and seeks clarity regarding the profitability of the joint venture structure [2][4] - The timing of deployment of Bloom's technology is critical to meet elevated investor expectations [4] - While Bloom Energy shows potential as an investment, there are other AI stocks that may offer greater upside potential with less downside risk [5]