Wall Street Believes Bloom Energy's Stock Is Bound to Double

Climbing more than 11% since the start of the year, shares of Bloom Energy (NYSE: BE) have notably outperformed the S&P 500, which has fallen more than 6% year to date. And there's plenty of more growth ahead according to Paul Coster, an analyst at JPMorgan. Coster recently raised his price target on Bloom Energy's stock to $17 from $14, while maintaining an overweight rating.

Coster's revised price target is noteworthy considering Bloom Energy's shares are currently changing hands at around $8.40. According to Thefly.com, Coster is "encouraged that the decarbonization, decentralization, and digitization of energy continues despite COVID-19."

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Source Fool.com