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Bloom Energy Corp. shares increased after RBC Capital reaffirmed its Outperform rating and $143 price target. Shares currently trade at $151, following a 525% return over the past year. The reaffirmation follows a permit request indicating Bloom's fuel cells will power a 1.5 GW data center in Navarro County, Texas.

Construction is set to begin in August 2026, starting with a 104 MW SOFC system, expanding to 800 MW. RBC sees this as evidence of widespread adoption of BE's fuel cells in large-scale data centers. Bloom will report quarterly results on February 5, with revenue growth expected.

Clear Street raised its price target to $68, while AEP announced a $2.65 billion deal for Bloom's fuel cells in Wyoming. Jefferies maintains an Underperform rating with a $53 target. BMO Capital and Mizuho hold Market Perform and Neutral ratings, respectively, while Evercore ISI reaffirms Outperform with a $152 target.