New York, January 11, 2026, 08:41 EST — The market has closed.
- On Friday, Bloom Energy closed at $134.07, marking a 10.1% gain.
- A fuel-cell purchase linked to a Wyoming project has put the spotlight on power demand from data centers.
- Some analysts label the order a demand “positive,” though opinions remain divided on valuation.
Bloom Energy Corp (BE.N) closed Friday at $134.07, surging 10.1%. The rally picked up steam after a major utility bought fuel-cell units, sparking follow-up analyst upgrades.
Why it matters now: Bloom has turned into a popular bet on the race for reliable power at data centers, where securing grid connections often drags on for years and on-site energy generation is making a comeback.
The stock has often lacked a firm order — not just an option or a pilot project. Investors are weighing whether this newest commitment signals a one-off deal or the beginning of a steady pipeline.
American Electric Power (AEP.O) announced this week that a unit will acquire a large share of its option for Bloom’s solid oxide fuel cells — technology that produces electricity via a chemical reaction instead of combustion — in a deal valued at roughly $2.65 billion. The plant is set to be built near Cheyenne, Wyoming. AEP also revealed it holds a 20-year offtake contract with an unnamed customer, contingent on conditions expected to be satisfied by Q2 2026. (Reuters)
Evercore ISI described AEP’s disclosure as “a meaningful positive for Bloom,” noting it provides investors with clearer insight into demand and suggests volumes far exceed the minimum commitment. (TipRanks)
Clear Street raised its price target to $68 from $58 but maintained a Hold rating, citing concerns over “the absolute valuation level.” The firm based its target on an enterprise value-to-sales multiple, a standard metric comparing company value to revenue, applied to a 2027 revenue forecast. (Investing)
Other firms are spread out on the ratings spectrum. Jefferies holds an Underperform rating and a $53 price target. BMO Capital assigns a Market Perform rating with a $136 target. Mizuho remains Neutral at $108, while Evercore sees more upside, setting its target at $152, according to a recent note roundup. (Investing)
The Wyoming angle has attracted generalist investors. Planning documents for the Project Jade data-center campus and an adjacent power hub in Laramie County reveal plans to use Bloom fuel cells alongside natural gas-fired generators. Tallgrass project director Raymon Williams described a “bring your own power” strategy designed to keep the project “very self-sufficient.” (POWER Magazine)
State officials have pushed the narrative hard. Wyoming Governor Mark Gordon told Data Center Dynamics that “data centers are a great use of our energy,” highlighting their potential to create jobs and boost tax revenue despite local worries about land use and water. (Data Center Dynamics)
But there are sharp edges to this setup. The offtake agreement carries strings, the buyer remains unnamed, and a project this large puts manufacturing, delivery timelines, and working capital to the test — all factors that can send the stock swinging quickly in either direction.
U.S. markets are closed Sunday, leaving the immediate focus on whether Monday sees the rally continue or if traders lock in gains after two strong days. Investors are also keen for fresh details on timing, financing, and who will end up in control.
Bloom hasn’t pinned down an exact earnings date yet, but a few market calendars suggest the report could land around Feb. 26. Investors will be watching closely for updates on backlog conversion, margins, and how quickly capacity is expanding. (Zacks)
