Bloom Energy raises full-year forecasts after Q2 beat
Shares of fuel-cell firm Bloom Energy BE.N were up 11.7% to $186.20 premarket.
The company, which has struck power supply agreements with AI data centers, raised FY revenue in a range of $3.9 billion to $4.2 billion, compared with a prior forecast of $3.4 billion to $3.8 billion.
BE lifted FY adjusted EPS to $2.55 to $2.85, from $1.85 to $2.25 earlier.
The company posted Q2 adjusted EPS of 78 cents and revenue of $1.07 billion, both beating analysts' consensus estimates of 41 cents and $827.6 million.
J.P. Morgan cut its target price to $314 from $346.
The stock hit a more-than-three-month low on Wednesday amid a selloff in AI stocks.
Fifteen of 30 brokerages rate the stock "buy" or higher, 14 "hold" and one "sell" or lower; the median target price is $292.5.
As of the last close, the stock had risen 92% year to date.
BE•
