Why Bloom Energy Stock Keeps Going Up
Bloom Energy (NYSE: BE) stock is on a roll. For four days in a row, shares of the fuel cell renewable energy pioneer have risen, including a monster 17% surge in value on Tuesday and a further 11.7% spike through 10:15 a.m. ET this morning.
You can thank Wall Street for keeping the good times rolling. On Monday, Wells Fargo raised its price target on Bloom stock to $14 a share. On Tuesday, RBC Capital reiterated its own buy rating -- also with a $14 price target.
Wells Fargo started the rally with its Monday note touting rising demand for Bloom Energy's fuel-cell-powered electricity generators to power cloud data centers. The "timing of larger deals is uncertain," cautions the analyst. Still, Wells sees sales growing in 2025 and wants to get ahead of the curve.
Source Fool.com
