Bloom Energy Rises as RBC Reaffirms Bullish Outlook

Bloom Energy shares rose sharply on Tuesday after RBC Capital Markets reaffirmed its bullish rating and price target, while reports also pointed to Oracle’s continued commitment to a major fuel-cell project. The rally followed a steep decline in the prior session, but the evidence for rising customer demand cited by analysts has not been independently confirmed in the material reviewed. Bloom’s shares gained between about 10.8% and 13% at different points in Tuesday trading, with one report recording a high of $302.35 and a last-traded price of $291.14. The varying figures reflect different observation times rather than a single final-session return. Trading volume was reported at about 23.6 million shares, compared with an average session volume of roughly 13 million. RBC maintained an Outperform rating and a $335 price target. Analyst Chris Dendrinos pointed to Bloom’s expansion at its Fremont, California, manufacturing site, including an additional 158,000 square feet of space, as a possible sign of stronger demand and a growing backlog. He also forecast a meaningful recovery in the fourth quarter.