Bloom Energy Corp (BE) shares are soaring 5.30% in pre-market trading on Friday, following the company's announcement of a successful upsized convertible senior notes offering and a significant price target upgrade from Jefferies.

The clean energy company has priced a private placement of $2.2 billion in 0% convertible senior notes due 2030, marking a substantial increase from the previously planned $1.75 billion offering. This upsized deal demonstrates strong investor confidence in Bloom Energy's future prospects. The company expects to close the offering on November 4, 2025, with net proceeds estimated at approximately $2.16 billion. A portion of these funds will be used to exchange existing notes, potentially improving the company's debt structure.

Adding to the positive sentiment, Jefferies has significantly raised its price target for Bloom Energy from $31 to $53, reflecting growing optimism about the company's potential in the clean energy sector. This upgrade, coupled with the successful notes offering, appears to be driving investor enthusiasm and contributing to the stock's impressive pre-market surge.