Bloom Energy Stock Soars: What's Going On? - Bloom Energy (NYSE:BE)

Bloom Energy’s stock climbed sharply on Monday, boosted by a bullish note from RBC Capital Markets. RBC analyst Christopher Dendrinos reiterated an Outperform rating and set a $335 price target, arguing Bloom remains well positioned despite post-election resistance to data centers and increased calls for oversight. Dendrinos said datacenters aren’t “dead,” but projects may face more community input, more careful site selection, and slower construction—creating near-term uncertainty. He pointed to Bloom’s advantages including cleaner exhaust, lower noise and zero water consumption. RBC left estimates unchanged and framed its target using a 22x multiple to 2028 earnings, with a best-case $428 and worst-case $74. The note also cites limited Texas fallout, Canada funding for low-carbon power technologies, and an NTT DATA deal covering 900 megawatts of on-site power. Shares were up 13.21% to $196.12.