Jefferies Lifts Bloom Energy (BE) Target to $92 Amid Stronger 2026 Forecast, Keeps Underperform

Core Viewpoint - Bloom Energy Corporation (NYSE:BE) is experiencing heightened attention on Wall Street, with Jefferies analyst raising the price target to $92.00 from $53.00 while maintaining an Underperform rating due to peak valuations leaving little room for error [1][4]. Group 1: Revenue Estimates and Expectations - Jefferies has raised its 2026 revenue estimates for Bloom Energy to $2.9 billion, which is 16% higher than consensus estimates, driven by AEP and Quanta orders [2]. - There are high expectations from investors ahead of Bloom Energy's quarterly report, particularly regarding capacity expansions beyond what has already been announced [3]. Group 2: Market Focus and Execution Risks - The firm anticipates a shift in market focus from macroeconomic tailwinds to execution risks, emphasizing the need for confidence in future deployments and management clarity [3]. - Despite strong macroeconomic factors supporting Bloom Energy, the maintained Underperform rating reflects concerns over peak valuations and execution risks [4]. Group 3: Industry Context - Bloom Energy develops solid-oxide fuel cell systems for on-site power generation, addressing the increasing energy demands of AI data centers [4].