At Extreme Investor Network, we are always on the lookout for exciting investment opportunities that have the potential for massive gains. One recent development caught our attention – Bloom Energy’s supply agreement with American Electric Power. This agreement has the potential to be a game changer for Bloom Energy, and here’s why.
Piper Sandler analyst Kashy Harrison recently upgraded Bloom Energy’s stock to overweight from neutral and raised the price target to $20, reflecting a 50.6% upside from Thursday’s close. This upgrade comes on the heels of Bloom Energy’s announcement that it reached an agreement with AEP to power artificial intelligence data centers and supply up to 1 gigawatt of its products. This is a significant deal, with AEP already ordering 100 megawatts of fuel cells and more orders expected in the future.
Harrison believes that the scale of this agreement could open up more growth opportunities for Bloom Energy in the future. In fact, he estimates that the equipment alone could be worth $3 billion, signaling a strong vote of confidence from a major player in the industry. With potential momentum from other domestic customers, Harrison expects Bloom Energy’s revenue to reach $1.8 billion in 2025.
Despite some skepticism from investors in the past, the majority of analysts covering Bloom Energy are bullish on the stock. With 14 out of 26 analysts having a strong buy or buy rating, there is a lot of optimism surrounding the company’s future potential. Even those who have taken a neutral stance still see significant upside, with the average target price implying more than 23% gains from Thursday’s close.
Overall, the recent developments at Bloom Energy, especially the supply agreement with AEP, are exciting news for investors looking for opportunities with high growth potential. With potential for significant gains in the future, Bloom Energy is definitely a stock to keep an eye on. Stay tuned to Extreme Investor Network for more updates and analysis on the latest investment opportunities in the market.