Oppenheimer Reiterates Perform Rating on Bloom Energy Corp. (BE)

Oppenheimer analyst Colin Rusch reiterated a Perform rating on Bloom Energy Corp. (NYSE: BE).

The analyst commented: "With BE posting strong beat and raise estimates, concerns about cash flow given the $430M growth in Customer Assets will likely prove an overhang on shares until cash cycles for deployments are confirmed despite $98M in new deposits. We remain impressed by the scope and pace of growth as BE leverages time-to-power, reduced emissions, and modularity advantages. As we previewed (note here), BE's carbon capture (CCUS) opportunity appears substantial with management suggesting a $1T TAM. We believe BE's highly concentrated CO2 anode exhaust is critical to system simplification and cost optimization to levels that can largely be covered by 45Q credits. We see potential for BE to begin monetizing CCUS through server sales, as it has with AEP, as well as with incremental offerings."

For an analyst ratings summary and ratings history on Bloom Energy Corp. click here. For more ratings news on Bloom Energy Corp. click here.

Shares of Bloom Energy Corp. closed at $217.77 yesterday.

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