By Josh Beckerman
Bloom Energy shares rose 9% to $16.99 on Friday after RBC Capital initiated coverage with an outperform rating and $24 price target.
The San Jose, Calif.-based company’s solid oxide technology is used for the distributed generation of electricity and hydrogen. In June, Bloom said it signed an agreement with Perenco to install 2.5 megawatts of fuel cells in England.
On May 30, Wells Fargo reduced its price target on Bloom to $17 from $20 and maintained its equal-weight rating.
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