Bloom Energy price target raised to $28 from $15 at RBC Capital

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RBC Capital raised the firm’s price target on Bloom Energy (BE) to $28 from $15 and keeps an Outperform rating on the shares. The company’s 1GW framework agreement with American Electric Power (AEP) provides a tangible proof point for its total addressable market and value proposition of Bloom’s fuel cells for customers who need power currently, the analyst tells investors in a research note. While the timing of the initial 100 MW delivery is unknown, the bigger focus should be on the growth opportunity that this transaction highlights, RBC adds.

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