Here’s Why Bloom Energy (BE) Ranks Among Mid-Cap Stocks That Are On Fire Right Now
Bloom Energy Corporation (NYSE:BE) is one of the 10 Mid-Cap Stocks That Are On Fire Right Now. On April 28, BTIG increased its price target on Bloom Energy Corporation (NYSE:BE) from $165 to $295 and kept its Buy rating on the stock, pointing to the company’s Q1 2026 results and an expanded partnership with Oracle.
The company entered into a master services agreement with Oracle for up to 2.8 gigawatts of fuel cells. As part of the deal, Bloom Energy Corporation (NYSE:BE) also issued a warrant to Oracle for about 3.5 million shares. Additionally, Oracle and a neocloud partner reported plans to use 2.45 gigawatts of Bloom Energy Corporation’s (NYSE:BE) fuel cells at a new AI data center in New Mexico instead of gas turbines and diesel generators.
The initial phase of Oracle’s order of 1.2 gigawatt is expected to generate between $3.5 billion and $4.0 billion of revenue based on historical average selling prices. This represents around 50% to 55% of Wall Street’s projected product revenue for Bloom Energy Corporation (NYSE:BE) through 2027.
The company started the year with a product backlog of about $6 billion. Bloom Energy Corporation (NYSE:BE) also expects full utilization of its expanded manufacturing capacity at its Fremont plant for more than a year.
Looking ahead, Bloom Energy Corporation (NYSE:BE) plans to increase its manufacturing capacity beyond 2 gigawatts based on customer demand rather than making large expansions. BTIG believes that future growth at the Fremont facility will require capital spending of $100 million or less per gigawatt.
Bloom Energy Corporation (NYSE:BE) designs and manufactures fuel cell systems for on-site power generation for data centers, semiconductor manufacturing, large utilities, and other commercial and industrial sectors.
While we acknowledge the potential of BE as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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