We recently published Wall Street Can’t Keep up With These 10 Stocks on Fire. Bloom Energy Corporation (NYSE:BE) was one of the top performers on Thursday.
Bloom Energy rallied for a second day on Thursday, jumping 12.81 percent to close at $121.84 apiece after securing another $2.65 billion worth of fuel cell supply deal with one of the largest power generators in the US.
In a regulatory filing, American Electric Power (AEP) said that its unregulated subsidiary successfully inked a purchase agreement with Bloom Energy Corporation (NYSE:BE) for another 900 MW of solid oxide fuel cells to support its power plant operations.
A Bloom Energy power generation system. Photo from Bloom Energy website
The development forms part of a deal signed in November 2024, covering 1 GW of supply, with an initial delivery of 100 MW.
The extended contract would support AEP’s recently signed 20-year power purchase agreement with a high investment grade third party customer which committed to purchase 100 percent of the electricity produced by a planned fuel cell generation facility in Cheyenne, Wyoming.
Despite the developments, Bloom Energy Corporation (NYSE:BE) maintained a “neutral” rating from investment firm Mizuho, alongside a $108 price target for its stock. The figure marked an 11.3 percent discount from its latest closing price.
According to Mizuho, its reaffirmed rating reflects its stance on Bloom Energy Corporation’s (NYSE:BE) average selling price of $2,950 per kilowatt to AEP, which is 4.8 percent lower than its estimate of $3,100 for years 2026 to 2028.
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Disclosure: None. This article is originally published at Insider Monkey.
