Is Bloom Energy Stock Going to $16? 1 Wall Street Analyst Thinks So.
While shares of Bloom Energy (NYSE: BE) may not power as high as previously thought, Biju Perincheril, an analyst at Susquehana, still thinks there's ample room for the fuel cell specialist's stock to run. Cutting the price target down from $18 on Wednesday, Perincheril now has a $16 price target for Bloom Energy stock.
At the end of Tuesday's trading session, shares of Bloom Energy were priced at $10.80, so Perincheril's $16 price target implies upside of more than 48%.
According to Thefly.com, Perincheril predicated his price target on updated expectations of project timing during the coming quarters. In particular, the analyst noted that Bloom Energy is pursuing opportunities related to data centers, and it's possible that it could recognize these projects in its backlog in the second half of 2024.
Source Fool.com
