Bloom Energy (BE) Stock Gets a Street-High Price Target — Here’s the Catalyst

TLDR

• UBS analyst Manav Gupta raised his price target on BE stock to a street-high $350, up from $322, while keeping a Buy rating
• Bloom Energy and Brookfield expanded their AI power partnership from $5 billion to $25 billion
• BE stock currently trades around $308.84, down 7.2% over the past week but up over 1,260% in the past year
• Gupta argues the market undervalues Bloom because it focuses too much on generation cost and not enough on total delivered power cost
• Wall Street’s overall consensus on BE is Moderate Buy, with an average price target of $283.95

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Bloom Energy (BE) picked up a new street-high price target on Tuesday as UBS analyst Manav Gupta lifted his target to $350 from $322, reiterating a Buy rating.

Bloom Energy Corporation, BE

BE stock was trading around $308.84 at the time of the call, sitting near its 52-week high of $351.28 but down about 7.2% over the prior week.

The trigger for the upgrade was a major expansion of Bloom’s existing partnership with Brookfield Asset Management. The deal grew from $5 billion to $25 billion.

Bloom and Brookfield first announced a deal in October 2025, aimed at supplying onsite power for Brookfield’s planned AI factories. That $5 billion framework has now been scaled up fivefold.

The expanded partnership sits under Brookfield’s dedicated AI Infrastructure Fund, which launched in November 2025 with a stated goal of deploying $100 billion.

Why UBS Thinks the Bears Are Wrong

Gupta’s core argument is that the market is measuring Bloom against the wrong benchmark. Most analysts focus on LCOE — the levelized cost of generating electricity — but Gupta says hyperscalers care far more about total delivered power cost.

When you factor in storage, backup systems, and grid upgrade costs, cheap renewables can get expensive fast. Bloom’s onsite fuel cell systems cut a lot of those add-ons out and offer higher uptime, which Gupta says makes them more competitive on a full-cost basis.

He also framed the Brookfield deal as more than just a funding agreement. The companies are building a model for AI factories that bundles power, compute, data center design, and capital into one package from day one.

Gupta currently ranks 343rd out of more than 12,300 analysts tracked by TipRanks. His track record on BE specifically stands out — an 82% success rate and an average return of 266.87% per rating over a one-year period.

More Orders and Policy Changes Adding Momentum

Bloom already has deals in motion. AI cloud company Nebius signed on to deploy Bloom’s fuel cells, and Gupta expects partnerships with Oracle and utility AEP to grow as well.

On the regulatory side, FERC recently moved to speed up grid connections for large data center loads. That change is pushing more operators to source their own power rather than wait on the grid — a setup that plays directly to Bloom’s product.

Bloom’s revenue grew 56.5% over the last twelve months, according to InvestingPro. Despite that growth, the platform flags the stock as appearing overvalued relative to its Fair Value estimate.

Wall Street’s overall view on BE is a Moderate Buy, based on nine Buy ratings and 10 Holds. The average price target sits at $283.95, which would actually represent a slight downside from current levels.

UBS’s $350 target is now the highest on the Street, sitting above the consensus by a wide margin.