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Morgan Stanley reiterated its Overweight rating and $30 price target on the stock, noting that the Investor Day shines a light on the company’s multi-year growth opportunity and margin improvement.
According to the bank, the strong multi-year growth tailwinds within the company’s fuel cell and electrolyzer business, achievable near-term margin improvement, and strong balance sheet position are not properly reflected in its current valuation.
Another firm, KeyBanc, shared its views on the event, reiterating its Overweight rating and $32 price target on the stock.
According to the firm, Bloom Energy offers significant value (at 2x 2024E sales) and is an attractive way to invest in the energy transition even without affording any meaningful credit for the upcoming growth in electrolyzer sales.
Shares closed with nearly a 7% loss today.
