Bloom Energy Corporation (NYSE:BE) is one of the best hydrogen stocks to buy right now. Bloom Energy Corporation (NYSE:BE) has received a mix of views from Wall Street analysts over the past few weeks. On December 16, Morgan Stanley analyst David Arcaro reiterated a Buy rating and set a price target of $155. That optimism was echoed by BTIG’s Gregory Lewis, who also maintained a Buy rating with a $145 target. Earlier in the month, however, Daiwa took a more neutral stance, initiating coverage on December 3 with a Hold rating and a $98 target.
Not all firms share the bullish outlook. On November 25, BofA Securities raised its price target from $26 to $39 but kept its Underperform rating in place. While the firm pointed to improvements in execution and a solid demand environment, it remains cautious. BofA expects Bloom’s megawatt capacity to grow at roughly a 40% compound annual rate through 2028, supported by the company’s 44.5% revenue growth over the past year and an estimated 27% increase this fiscal year.
Valuation, however, continues to be a concern. Bloom currently trades at extremely high multiples, with a P/E ratio above 1,400 and an EV/EBITDA multiple near 167. BofA notes that maintaining growth beyond 2027 will likely depend on securing large new contracts, which adds execution risk. Although the company carries manageable debt and has strong liquidity, analysts see fourth-quarter backlog figures as a critical indicator of whether order activity can keep pace with the company’s growth narrative.
Bloom Energy Corporation (NYSE:BE) designs and installs solid-oxide fuel cell systems that provide on-site power in the U.S. and internationally. Its core offering, the Bloom Energy Server, produces electricity through an electrochemical process using fuels such as natural gas, biogas, or hydrogen, rather than traditional combustion. The company also sells the Bloom Electrolyzer, a product aimed at efficient hydrogen generation. Bloom serves customers across a wide range of sectors, including utilities, data centers, healthcare, retail, agriculture, universities, biotechnology, and manufacturing, through both direct sales and partnerships.
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Disclosure: None. This article is originally published at Insider Monkey.
