Why Bloom Energy Stock Is Powering Higher Today
Key Points
RBC Capital reaffirmed its rating and price target on Bloom Energy stock.
Investors should wait for confirmation from Bloom Energy when it reports financial results, in light of RBC Capital's speculation about the company's backlog.
- 10 stocks we like better than Bloom Energy ›
After ending yesterday's market session nearly 10% lower than Friday's close, shares of Bloom Energy (NYSE: BE) are rebounding today. With a firm providing an optimistic outlook on fuel cell stocks, investors are clearly motivated to load up on shares.
As of 1:05 p.m. ET, shares of Bloom Energy are up 12.5%.
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One firm suspects Bloom's demand is blossoming
After the market closed on Monday, RBC Capital reaffirmed its outperform rating and $335 price target on Bloom Energy stock. With shares closing at $262.87 yesterday, RBC Capital's price target implies more than 27% upside.
According to Thefly.com, RBC cited the company's acquisition of 158,000 square feet of floor space in Fremont as an indication that the increase in manufacturing capacity may suggest the company is enjoying greater demand than previously thought, and that a rising backlog is likely.
Is the smart move to power your portfolio with Bloom stock today?
While many investors are finding sufficient motivation to acquire Bloom stock, it's important to recognize that RBC Capital's conclusion is speculative. Conservative investors interested in gaining exposure to fuel cell and hydrogen stocks would be better served by waiting for confirmation of the company's growing backlog when Bloom reports third-quarter 2026 financial results in the coming weeks.
Should you buy stock in Bloom Energy right now?
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Scott Levine has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bloom Energy. The Motley Fool has a disclosure policy.
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