Bloom Energy Stock Rises as RBC Reaffirms Outperform on Texas Data Center Project
Bloom Energy Corp. shares rose after RBC Capital reaffirmed its Outperform rating and $143 price target, following a permit request for a 1.5 GW data center in Navarro County, Texas, which will utilize Bloom's fuel cells. The stock currently trades at $151, reflecting a 525% return over the past year, while construction on the project is set to begin in August 2026. Bloom is also expected to report quarterly results on February 5, with anticipated revenue growth.
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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.
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