JP Morgan raises Bloom Energy’s price target by 29%, citing $25 billion AI data center power deals and 4.1 GW capacity forecast for 2030.
Bloom Energy (NYSE: BE) shares climbed 14% Tuesday after JP Morgan analyst Mark Strouse increased the stock’s price target to $346 from $267, implying 75% upside. The revision follows a $25 billion partnership expansion with Brookfield Asset Management to power AI data centers.
The firm projects Bloom Energy will deliver 4.1 gigawatts of fuel capacity by 2030, driven by tech companies’ urgent need for off-grid, clean power. The stock had rallied 248% in the first half of 2026 before a recent pullback.
Strouse highlighted the company’s deepening ties with hyperscalers, which require immediate power solutions ahead of traditional grid expansions.