What Happened?
Shares of electricity generation and hydrogen production company Bloom Energy (NYSE: BE) jumped 7.7% in the afternoon session after Jefferies raised its price target on the stock and increased its 2026 revenue forecast.
The firm lifted its price target to $92.00 from a previous $53.00. This change was supported by an increased revenue estimate for 2026, which Jefferies projected to reach $2.9 billion, 16% higher than consensus estimates, driven by orders from AEP and Quanta.
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What Is The Market Telling Us
Bloom Energy’s shares are extremely volatile and have had 79 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 12 days ago when the stock gained 6.3% on the news that it continued a multi-day rally sparked by a landmark $2.65 billion agreement with American Electric Power (AEP) for its solid-oxide fuel cells.
The stock extended its five-day winning streak, which had already produced cumulative gains of over 36%. The rally was initially triggered after AEP disclosed the massive deal for Bloom's energy solutions, fueling strong investor optimism. The move also occurred as the broader energy sector showed significant strength, with key energy exchange-traded funds posting notable returns. This positive sentiment for the sector was supported by growing interest in alternative energy sources as part of the global energy transition.
Bloom Energy is up 54.6% since the beginning of the year, and at $152.60 per share, has set a new 52-week high. Investors who bought $1,000 worth of Bloom Energy’s shares 5 years ago would now be looking at an investment worth $3,878.
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