Bloom Energy (NYSE: BE) stock jumped more than 15% in morning trading on Wednesday, with the stock sitting around $237 at time of writing.
The catalyst was JPMorgan analyst Mark Strouse raising his price target on BE to $346, up from $267. He kept his Overweight rating in place.
Strouse projects Bloom Energy could deliver 4.1 gigawatts of fuel capacity by fiscal year 2030, driven by heavy demand from AI data center operators looking for fast, off-grid power.
The upgrade came right after a strong earnings report. Bloom Energy posted record Q2 2026 revenue of approximately $1.065 billion.
That figure was up roughly 166% year-over-year and beat analyst consensus by nearly 29%. Non-GAAP EPS of $0.78 nearly doubled what analysts had expected.
Following those results, the company raised its full-year 2026 revenue guidance to a range of $3.9 billion to $4.2 billion.
JPMorgan also flagged that Bloom addressed investor concerns around scandium supply. Available supply is reportedly enough to support up to 25 gigawatts of annual manufacturing capacity.
CoreWeave’s Q2 results gave BE stock an extra push. CoreWeave reported $2.58 billion in revenue and a $104 billion revenue backlog built on AI infrastructure demand.
The link between the two companies is straightforward. CoreWeave uses Bloom’s solid oxide fuel cell technology to power its high-density data centers quickly.
As CoreWeave pushes its active power capacity past 1.85 gigawatts, it needs more on-site energy fast. That translates directly into more orders for Bloom’s energy servers.
CoreWeave CEO Michael Intrator said the company “reached an important inflection point this quarter as our scale began to translate into expanding operating leverage.”
The broader clean energy sector has been riding the AI power demand wave, and Bloom sits at the center of it.
The company has major customer agreements already in place, including a large-scale Oracle deployment and a Brookfield partnership. These deals reinforce Bloom’s position as a power supplier to the AI buildout.
The wider market was mildly positive on Wednesday. The S&P 500 added around 0.3% and the Nasdaq gained roughly 0.6%. Neither move was close to explaining Bloom’s jump on its own.
The JPMorgan price target raise acted as the spark that converted weeks of post-earnings consolidation into a sharp breakout.
BE was up approximately 12.32% at $237.24 at the time of publication Wednesday morning.
The post Bloom Energy (BE) Stock Surges 15% as JPMorgan Raises Price Target to $346 appeared first on CoinCentral.
