Jefferies Lifts Bloom Energy Target to $92, Says Valuation Allows Little Room for Error

Overview

• An American Electric Power subsidiary exercised an option on January 8 to buy roughly $2.65 billion of Bloom Energy’s solid oxide fuel cells under a 20-year offtake agreement.
• Bloom Energy shares reached a record $147.93 on January 16 and have risen about 470% over the past year.
• Jefferies raised its price target to $92 and kept an Underperform rating, projecting 2026 revenue of about $2.9 billion and cautioning that peak valuations heighten execution risk.
• Jefferies cited AEP and Quanta orders in its higher forecasts and urged investors to watch for capacity expansion updates and confidence in out‑year deployments ahead of the next quarterly report.
• Other analysts maintained more positive stances, with Evercore ISI reiterating Outperform with a $152 target and Clear Street raising its target to $68 with a Hold rating.