Bloom Energy initiated with a Neutral at Roth MKM

Roth MKM last night initiated coverage of Bloom Energy (BE) with a Neutral rating and $25 price target Bloom is a global leader in the hydrogen fuel cell sector with its patented solid oxide technology platform, the analyst tells investors in a research note. The firm favors Bloom’s position with established technology that it says can be rapidly deployed in markets that are increasingly grid-constrained, as well as its ability to effectuate energy transition with customers over time. However, it finds the stock’s risk/reward more balanced at current valuation levels, and looks for potential pullbacks to get more constructive.