Bloom Energy Stock Rebounds After 10% Drop from Paused 900 MW Wyoming Project
BE•Bloom Energy shares fell nearly 10% after Crusoe paused a planned 900 MW fuel-cell project at a 1.8 GW Wyoming campus but recouped over 1% in subsequent trading. Morgan Stanley kept its Overweight rating with a $310 price target and RBC Capital maintained an Outperform rating at $335.
1. Project Pause Impact
Crusoe halted development on a 1.8 GW energy campus in Cheyenne, Wyoming, at customer request, suspending plans to deploy 900 MW of Bloom Energy fuel cells alongside grid power. The pause puts approximately $2.65 billion in potential revenue on hold, though the underlying 1 GW master supply agreement with AEP remains in force.
2. Wall Street Ratings
Morgan Stanley maintained its Overweight rating and $310 price target, citing contractual protections that should safeguard earnings over the delivery period. RBC Capital also reiterated its Outperform rating with a $335 price target, underscoring continued confidence in Bloom Energy’s long-term outlook.
3. Stock Performance and Retail Sentiment
Shares dropped nearly 10% on initial news of the project suspension but recovered over 1% in overnight trading as analysts held firm on their positive views. Retail sentiment on investor forums remained bearish with high message volumes, though some users highlighted the company’s substantial backlog ahead of July earnings.
