Ghazal Ahmed
1 min read
In This Article:
Bloom Energy Corporation (NYSE:BE) is one of the 10 AI Stocks Gaining Wall Street’s Attention. On May 29, Analyst Andrew Percoco of Morgan Stanley maintained a “Buy” rating on Bloom Energy Corporation (NYSE:BE) and retained a price target of $30.00.
Percoco’s rating reaffirmation follows Bloom Energy’s developments in Ohio. In particular, the approval by the Public Utility Commission of Ohio for projects concerning Bloom Energy, AEP, as well as data center customers such as Amazon Data Services and Cologix, was seen as a catalyst. The recent approvals allow the said projects to continue without any obstacles, removing any uncertainties along the way.
A bird's eye view of a power generation platform with a power plant in the background.
The analyst further noted how the recent Ohio legislation that restricts AEP from owning and operating fuel cell systems for customers does not have an impact on current projects filed before the restriction date. Therefore, Bloom has a clear path to move forward with AEP.
All the mentioned positive developments underscore the firm’s positive outlook toward the stock.
Bloom Energy Corporation (NYSE:BE) develops solid-oxide fuel cell systems for on-site power generation, helping meet the growing energy demands of AI data centers.
While we acknowledge the potential of BE as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 10 AI Stocks in the Spotlight and 10 AI Stocks Getting Wall Street’s Attention.
Disclosure: None.
