Bloom Energy shares climbed 5% in morning trading after RBC Capital reiterated its Outperform rating and amid supportive policy news. RBC maintained a $335 price target, citing Virginia’s 2026 Energy Plan as a potential catalyst.
The plan creates a “non-combustion gas resource” category and identifies fuel cells as a preferred technology for near-term grid reliability. The designation could expand Bloom Energy’s market.
Barclays also raised its price target, to $308 from $276. Separately, Bloom Energy acquired a facility in Fremont, California, which is expected to nearly double its manufacturing capacity.
The developments have supported investor expectations for Bloom Energy’s role in powering AI data centers and utility-scale infrastructure.