New York, Feb 24, 2026, 15:12 EST — Regular session
- Bloom Energy shares picked up roughly 5% in afternoon trading, adding to a strong two-day rally.
- Citigroup initiated coverage at “Neutral”, setting a price target of $162.
- Surging demand for on-site power has investors taking a hard look at valuations—and the risks around actually delivering.
Bloom Energy Corporation climbed 4.6% to $167.59 in Tuesday’s afternoon session, building on Monday’s 8.6% rally. The stock moved between $154.69 and $173.07 during the day, edging close to its 52-week peak of $176.49. (Investing)
Why does it matter? BE has become a go-to high-beta proxy for just one thing: the speed at which major power users shift to on-site generation rather than relying on the grid. The stock’s moves come in quick bursts, and Tuesday didn’t buck the pattern.
Analyst calls are hitting with more force these days—investors looking for some clarity between genuine demand and plain momentum chasing. Even a fresh initiations note can jolt the tape for hours at a stretch.
Citigroup’s Vikram Bagri kicked off coverage with a Neutral call and a $162 target. He pointed to “strong uptake” for Bloom’s product but argued the stock looks “fairly valued” here, according to TheFly. Bagri said he’s waiting for a more attractive entry. (Tipranks)
FactSet data shows analysts, on average, rate Bloom Energy overweight, with a consensus price target of $146.67, MT Newswires reported through MarketScreener. Citi’s $162 target, meanwhile, trails the stock’s Tuesday level. (Marketscreener)
Momentum’s been steady since Bloom reset expectations with its most recent results. The company posted a record $2.02 billion in revenue for 2025 and noted its total current backlog sits around $20 billion—about $6 billion of that from product backlog alone, which is up roughly 2.5 times from a year ago. Looking ahead, Bloom is projecting 2026 revenue in the $3.1 billion to $3.3 billion range, with non-GAAP EPS between $1.33 and $1.48. CEO KR Sridhar told investors, “Bring-your-own-power has shifted from a slogan to a business necessity,” citing demand from both AI data centers and industrial customers. (Bloomenergy)
“Backlog” counts up all the contracted product and service work the company hasn’t recognized as revenue yet — something traders track, since it points to potential revenue coming down the line. “Non-GAAP” results cut out items like stock-based compensation, aiming to highlight what management claims is the core operating trajectory.
Capacity remains a sticking point. During its investor presentation, Bloom pointed to plans for existing plants to reach 2 gigawatts of capacity by the end of 2026. The company also emphasized that current sites could scale even further. The takeaway: it’s not just about filling the order book—actual output is on the line. (Q4Cdn)
But here’s the rub: the stock sits close to its peak, and it’s been whipping around intraday. Even a whiff of delay—manufacturing, customer schedules, margins—can slam the shares fast, particularly if Wall Street latches onto a “valuation first, growth later” narrative.
Right now, traders are watching for any sign of new customer pickups, changes to delivery timelines, and shifts in analyst sentiment—whether that draws in more buyers or tempers enthusiasm. Bloom is set to take part in CERAWeek in Houston from March 23 to 27, a gathering investors frequently tap for hints around deal activity and mood among heavy energy users. (Bloomenergy)
