Bloom Energy Corp (BE)

[StockJunky]

Bloom Energy's Stock Rises, To Extend Previous Session's Rocket Ride After Morgan Stanley Reiterates Bullish Stance -- Overweight Rating --
Price Target $21
10:04 AM ET 7/16/20 | Dow Jones
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11:34 AM ET 7/16/20

Shares of Bloom Energy Corp. (BE) surged 1.5% toward a 19-month high in morning trading Thursday, after Morgan Stanley analyst Stephen Byrd said the alternative-energy company's dive into the hydrogen market gave him another reason to be bullish. The stock's gain follows the 34.8% rocket ride higher on Wednesday to the highest close since November 2018, after the company said it was making thehydrogen-powered fuel cells and a new product, electrolyzers
(http://www.marketwatch.com/story/bloom-energy-stock-soars-30-after-hydrogen-fuel-cell-play-2020-07-15), which produces green hydrogen, to be sold in South Korea next year through a partnership with SK Group.

"These initiatives open incremental markets for [Bloom Energy] and put the stock on the list of hydrogen plays, which are growing in interest for investors," Byrd wrote in a note to clients. He reiterated the overweight rating he's had on the stock since August 2018, and kept his price target at $21. The stock has more than doubled (up 139.9%) year to date, while the S&P 500 has lost 0.8%.