Shares of Bloom Energy Corp (BE) surged 5.23% in pre-market trading on Monday, following a significant upgrade from Mizuho Securities. The clean energy company's stock received a boost after analyst Maheep Mandloi raised the rating from Neutral to Buy, citing positive outlook for the firm.

Mizuho Securities adjusted its price target for Bloom Energy to $26, down slightly from the previous $28. Despite the minor reduction in the target price, the upgrade to Buy status signals strong confidence in the company's future performance. This positive assessment aligns with the overall market sentiment, as FactSet's poll of analysts shows an average rating of overweight for Bloom Energy, with a mean price target of $24.08.

The upgrade from Mizuho Securities comes at a crucial time for Bloom Energy, as the clean energy sector continues to attract investor attention amid global efforts to transition to sustainable power sources. While specific reasons for the upgrade were not detailed in the available reports, the move suggests that Mizuho analysts see potential for growth and improved performance in Bloom Energy's operations and market position.