BofA Lifts Bloom Energy (BE) Price Target to $26 After Brookfield Deal

Bloom Energy Corporation (NYSE:BE) is one of the Trending AI Stocks on Wall Street’s Radar. On October 20, BofA Securities analyst Dimple Gosai raised the price target on the stock to $26.00 (from $24.00) while maintaining an Underperform rating.

The raised price target follows Bloom’s new partnership with Brookfield, which the firm describes as a “blue-chip counterparty” and strengthens Bloom’s position in the AI-driven power resiliency sector.

The partnership positions the company as Brookfield’s preferred onsite-power provider for grid-constrained data centers, reflecting an estimated 1.8GW at BofA’s forward pricing estimates.

“Bloom’s new Brookfield partnership adds a blue-chip counterparty and reinforces its position at the center of the AI-driven power-resiliency build-out. The up-to-$5B partnership (~1.8GW at our forward pricing) positions Bloom Energy (BE) as Brookfield’s preferred onsite-power provider for grid-constrained data centers, but it remains an early-stage memorandum—not contracted backlog. Brookfield’s prior data-center programs—$20B for 1GW in France through 2030 and $10B for 750MW in Sweden over 10–15 years—point to a long rollout horizon. We see the initial deployments as gradual, not a near-term earnings catalyst. Still, the stock’s 33% rally (+$6.6B in market cap) implies investors are already treating this as executable backlog, effectively valuing the potential Brookfield earnings stream at 33–66× EBITDA vs Bloom’s ~14× five-year average. A strategic win, yes—but the market is paying today for a decade of delivery.”

Bloom Energy Corporation (NYSE:BE) develops solid-oxide fuel cell systems for on-site power generation, helping meet the growing energy demands of AI data centers.

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