Piper Sandler sees 50% upside for this renewable energy play

Piper Sandler analyst Kashy Harrison upgraded Bloom Energy to overweight and raised the price target by $10 to $20, citing a recent supply agreement with American Electric Power that could result in significant gains for the company. The agreement entails powering AI data centers and supplying up to 1 gigawatt of products, with potential equipment value of $3 billion, leading to growth opportunities despite past skepticism. With a majority of analysts bullish on the stock and revenue expected to reach $1.8 billion in 2025, Bloom Energy may see substantial upside potential in the future.

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