UPDATE: JPMorgan Upgrades Bloom Energy Corp. (BE) to Overweight on Valuation
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JPMorgan analyst Paul Coster upgraded Bloom Energy Corp. (NYSE: BE) from Neutral to Overweight with a price target of $36.00.
The analyst comments "Strong value proposition. BE’s proprietary solid-oxide fuel-cell technology, field-tested by demanding C&I customers, turns natural gas and hydrogen into baseload (24x7) electricity as efficiently as gas turbines, but in small, clean, configurable modules that can be located anywhere there is a gas supply.BE electricity should be competitive with the grid in most markets globally in the 2020s, yielding an estimated TAM of over $150bn."
Shares of Bloom Energy Corp. closed at $23.15 yesterday.
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