Bloom Energy jumps on Barclays upgrade and California Resources carbon‑capture partnership
Bloom Energy announced a non‑binding memorandum of understanding with California Resources Corp. and its Carbon TerraVault unit to explore more than 1 GW of solid‑oxide fuel‑cell power paired with carbon capture in California. Barclays upgraded Bloom Energy to Overweight, setting a new price target of $289, while Oppenheimer kept a Perform rating. The news lifted the stock sharply in pre‑market trading.
Why it matters
Barclays’ upgrade and the carbon‑capture partnership signal accelerating demand, which could improve Bloom Energy’s revenue outlook, but the company still reported negative operating cash flow in Q3, indicating cash‑flow risk for investors.
Key facts
- 1Bloom Energy’s stock rose 6.3% in pre‑market trading after the announcement. investing.com
- 2Barclays upgraded Bloom Energy to Overweight and set a price target of $289. investing.com
- 3Bloom Energy signed a non‑binding MOU with California Resources Corp. and its Carbon TerraVault unit to evaluate development of 1 GW or more of solid‑oxide fuel‑cell power paired with carbon capture and storage. investing.com
- 4Customer deposits jumped to $661 million in the third quarter, up from $78 million at the end of 2025. 247wallst.com
- 5Bloom Energy’s Q3 2026 revenue rose 138.1% year‑over‑year to $1.24 billion. 247wallst.com
- 6Operating cash flow in Q3 was negative $27.1 million. 247wallst.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.