Analyst maintains Overweight rating and $310 price target, citing Bloom’s ability to reroute equipment despite pipeline setback.
Bloom Energy shares surged 26.54% to $207.21 after reporting record second-quarter revenue and raising its 2026 guidance. The company’s solid oxide fuel cells power AI data centers, including a 2.45-gigawatt deployment for Oracle’s Project Jupiter in New Mexico, which faces delays due to pipeline regulatory rejections.
Morgan Stanley analyst David Arcaro maintained an Overweight rating and a $310 price target, representing nearly 50% upside. The bank argued Bloom can redirect equipment to other projects and fulfill existing customer agreements, reducing reliance on Oracle’s timeline.
Bloom’s raised guidance and diversified contracts mitigate risks from potential delays, according to the note. The company’s backlog and financing agreements provide additional stability amid regulatory hurdles.