On July 23, Bloom Energy Corp rose 3.06% in regular trading, trading at $226.17/share, with turnover of $381 million. The stock resumed its rebound after short-term selling pressure from a prior 14%-plus surge was absorbed, allowing bulls to re-enter.
On the news front, UBS maintained its buy rating and $350 price target, stating that scandium oxide supply concerns have been overblown. RBC also noted that short seller Hunterbrook's report relied on outdated reference material, and that the company has reduced its dependency on scarce minerals through patents and technological improvements. Additionally, Brookfield expanded its AI infrastructure partnership with the company to $25 billion, reinforcing fundamental support.
The company's quarterly earnings report is scheduled for July 28, with consensus EPS expectations at $0.23. Jefferies recently raised its price target to $246 from $207, while the average analyst target stands at $298.66.
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