New York, January 9, 2026, 18:03 EST — After-hours
- Bloom Energy shares climbed roughly 10% in after-hours trading, building on earlier gains following AEP’s announcement of a sizable fuel-cell purchase deal
- AEP announced its unregulated division has inked an unconditional purchase and a 20-year offtake agreement for a project in Wyoming
- Analysts remain divided on valuation, despite clearer visibility on volumes and pricing
Shares of Bloom Energy Corp jumped roughly 10% in after-hours trading Friday, last seen at $134.07. During the session, the stock fluctuated between $120.62 and $136.71, with volume surpassing 15 million shares.
American Electric Power disclosed in a regulatory filing that an unregulated subsidiary entered an unconditional purchase agreement on Jan. 4 to buy a large portion of its option for solid oxide fuel cells, valued at roughly $2.65 billion. The filing also revealed a 20-year offtake deal with a “high investment grade” third-party customer, covering 100% of the output from a planned facility near Cheyenne, Wyoming. (OTC Markets)
The key point now is the deal’s size and what it implies about the economics. Christopher Dendrinos of BMO Capital noted the deal suggests an average selling price around $2,950 per kilowatt, which aligns with the firm’s projections. However, he also warned that reported revenue might come in significantly lower if a separate service contract isn’t added down the line.
The announcement follows a 2024 framework deal with an initial 100 megawatts and an option for an extra 900 MW; traders took it as a signal that the option is turning into firm orders. Bloom shares surged 14% early Thursday to $123.04, hitting their highest level since November, after news of the agreement broke. (Reuters)
Not everyone is buying the rally. Clear Street raised its price target on Bloom to $68 from $58, yet maintained a Hold rating, pointing to what it described as “the absolute valuation level.” (Investing)
Others zeroed in on permitting and pace. Evercore ISI analyst Nicholas Amicucci reaffirmed an Outperform rating with a $152 price target, noting: “At this point, Bloom becomes a more attractive option as it doesn’t require an air permit.” (Streetinsider)
But the contract isn’t fully de-risked. AEP noted the offtake deal hinges on conditions it expects to clear by Q2 2026; if those fall through, AEP says it will be compensated for capital and costs. That clause leaves some wiggle room on timing and delivery schedules for Bloom.
Next, investors will focus on how much of the 900 MW option falls under the “substantial portion” phrase, and if Bloom plans to add services or contracts linked to the project. Bloom hasn’t announced a date for its next earnings yet, but MarketBeat expects a report on Feb. 26 after the market closes. (MarketBeat)
