Bloom Energy (BE) Stock: JPMorgan and RBC Are Buying the Dip. Should You?
TLDR
- BE stock is down ~33% over the past month and over 10% in the past five days
- RBC Capital says Bloom Energy is the likely power supplier for EdgeMode’s two new 1.2GW data center projects in Panama
- RBC reaffirmed a Buy rating with a $335 price target, implying ~54% upside
- JPMorgan also maintained its Buy rating, citing rising power demand and “compelling entry points”
- Bloom secured a $1.7 billion investment in its technology last week; Q2 earnings are due soon
Bloom Energy (BE) stock opened at $217.30 on Friday, barely managing a 1% gain early in the session despite fresh speculation around a major new data center deal in Panama. The stock has dropped over 10% in the past five days and roughly 33% over the past month — a slide triggered by short-seller attacks and concerns about a deployment delay tied to an Oracle project.
On Thursday, EdgeMode CEO Charlie Faulkner told financial media outlet Core Finance that the company has added two new 1.2GW data center projects in Panama to its portfolio. The projects build on EdgeMode’s existing push into solid-oxide fuel cell technology in Europe.
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