Why Bloom Energy Stock Jumped Over 10% Today

Bloom Energy (BE) surged 14% after JP Morgan analyst Mark Strouse lifted his price target to $346 per share, implying 75% upside from current levels. The upgrade reflects growing confidence in the fuel cell maker's ability to capitalize on surging power demand from AI data centers.

Strouse projects Bloom will deliver 4.1 gigawatts of capacity by 2030, fueled by hyperscaler appetite for on-site power generation. The thesis got a major boost from Bloom's $25 billion partnership with Brookfield Asset Management, announced earlier this year to finance and deploy fuel cell installations at scale.

The rally sets up BE ahead of second-quarter earnings on July 28, where management is expected to reaffirm or raise full-year guidance. The stock has been volatile through 2024 as investors weigh execution risk against the AI infrastructure buildout narrative.