Bloom Energy (BE) is "growing at a faster pace" than expected as the company expands with high-profile customers like Oracle (ORCL), Amazon (AMZN) Web Services, and Cologix, UBS Securities said in a note emailed Friday.
The company is collaborating with Oracle to deploy its solid oxide fuel cell systems at Oracle Cloud Infrastructure within 90 days, according to the note.
"Bloom's fuel cell technology will join OCI's extensive energy portfolio, further supporting their cutting-edge AI infrastructure with reliable, clean power that can be quickly deployed and easily scaled," the firm said.
Regulatory approvals are accelerating Bloom Energy's deployment, with projects like American Electric Power (AEP) Ohio's installations at Amazon Web Services and Cologix data centers, Wedbush added.
The firm raised its price target on Bloom Energy's stock to $41 from $29 with a buy rating.
Price: 34.56, Change: +1.50, Percent Change: +4.52
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