Bloom Energy stock bounces off 11-month low after Raymond James gets even more bullish

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Shares of Bloom Energy Corp BE, -8.45% rallied 3.5% successful premarket trading Tuesday, to bounce disconnected an 11-month closing debased successful the erstwhile session, aft Raymond James expert Pavel Molchanov said helium was adjacent much bullish connected the hydrogen play, citing a much charismatic valuation. Molchanov raised his standing to beardown bargain from outperform, saying the stock's caller underperformance, arsenic it has shed 41.0% twelvemonth to day portion the Invesco WilderHill Clean Energy ETF PBW, -4.72% has mislaid 28.6% (the S&P 500 SPX, -1.30% has rallied 14.5% this year), has made it much attractive. "As a textbook communicative banal successful 1 of cleanable tech's astir fashionable but polarizing verticals, Bloom is simply a high-beta, assertive maturation idea," Molchanov wrote successful a enactment to clients. "We look astatine Bloom's positioning vis-à-vis vigor resilience solutions--in the discourse of clime adaptation, specifically the increasing prevalence of grid outages--as an facet of the concern that is not afloat appreciated." He said the upcoming foray into electrolyzers offers pre-revenue optionality, bolstered by targets successful European Union clime policy.

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