New York, January 28, 2026, 15:20 ET — Regular session
- Shares of Bloom Energy climbed roughly 10% during afternoon trading, building on a strong rally seen earlier in 2026
- Barclays kicked off coverage with an Equalweight rating, while Baird raised its price target
- Attention shifts to the Feb. 5 earnings report for clues on production capacity and data-center demand
Bloom Energy’s stock jumped 9.6% to close at $166.94 Wednesday, peaking at $167.35 during the session. Trading volume hit roughly 10.7 million shares, according to exchange figures.
The focus remains on power suppliers linked to data-center expansions, with developers seeking electricity sources that can be activated rapidly. Bloom offers solid oxide fuel cells generating electricity onsite; these “behind-the-meter” projects operate on the customer’s side of the utility meter, cutting the need for new grid connections.
This year, investors have zeroed in on energy and grid-adjacent firms, with Bloom standing out as a key player benefiting from data centers aiming to produce their own power instead of relying on local grid enhancements, Reuters noted. Clean Street analysts said, “Behind-the-meter power solutions are in the early stages of ramping up.” 1
Barclays kicked off coverage on Bloom with an Equalweight rating and set a $153 price target. The bank highlighted catalysts tied to demand for the company’s fuel-cell systems and its quick power deployment, including a deal with Oracle promising power delivery within 90 days. Still, Barclays warned that the current stock price already prices in a sharp increase in deliveries by decade’s end. 2
Baird’s Ben Kallo bumped his price target to $172 from $157 and maintained an Outperform rating in a note released Tuesday. 3
Bloom’s rally picked up steam earlier this month when American Electric Power inked a $2.65 billion deal for Bloom-made fuel cells for a Wyoming project, according to Reuters. AEP noted the project depends on meeting conditions related to a 20-year offtake agreement with an unnamed customer, which must be finalized by Q2 2026. 4
Shares of other fuel-cell companies edged higher Wednesday. Plug Power gained 3.1%, while FuelCell Energy ticked up 0.8%.
The flip side is clear. Following a sharp rally, investors now expect flawless execution — from ramping up manufacturing to meeting installation deadlines and controlling costs as projects grow. Any hiccups in customer buildouts, permitting setbacks, or changes in how data centers get their power could weigh heavily on the stock.
Bloom is set to release its fourth-quarter results after market close on Feb. 5, followed by a conference call at 5 p.m. ET. Traders will be focused on any updates regarding production capacity and how quickly recent demand is translating into shipments and revenue. 5
