Bloom Energy stock bounces off 11-month low after Raymond James gets even more bullish
Published
Oct 05 2021 at 11:58 AM GMT
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- Shares of Bloom Energy Corp rallied 3 5% in premarket trading Tuesday, to bounce off an 11-month closing low in the previous session, after Raymond James analyst Pavel Molchanov said he was even more bullish on the hydrogen play, citing a more attractive valuation.
- Molchanov raised his rating to strong buy from outperform, saying the stock's recent underperformance, as it has shed 41.0% year to date while the Invesco WilderHill Clean Energy ETF has lost 28.
- 6% (the S&P 500 has rallied 14.5% this year), has made it more attractive.
- "As a textbook story stock in one of clean tech's most popular but polarizing verticals, Bloom is a high-beta, aggressive growth idea," Molchanov wrote in a note to clients.
- "We look at Bloom's positioning vis-?-vis energy resilience solutions--in the context of climate adaptation, specifically the growing prevalence of grid outages--as an aspect of the business that is not fully appreciated.
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- Published Oct 5, 2021 11:58 AM GMT