Jefferies Lifts Bloom Energy Target but Flags Project Risks

This article first appeared on GuruFocus. Jefferies raised its price target on Bloom Energy (NYSE:BE), the fuel cell maker, to $264 from $229 while keeping a Hold rating, saying its behind-the-meter power thesis remains intact despite friction at some of its biggest projects. Bloom Energy shares were up 13.34% intraday, as of 12:40 p.m. ET. Warning! GuruFocus has detected 6 Warning Signs with BE. Is BE fairly valued? Test your thesis with our free DCF calculator.BE GF Value chart Jefferies pointed to Brookfield's $25 billion framework, American Electric Power's (NASDAQ:AEP) $2.65 billion firm order and Bloom's plan to reach 2 gigawatts of manufacturing capacity by the end of 2026 as support for near-term growth.