Is Power Play Data Center Hot?

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Bloom Energy ( BE ) reported Q1 2026 revenue of $751M, up 130% YoY with non-GAAP EPS of $0.44 vs. $0.13 expectations, prompting JPMorgan to raise its price target to $267 and Susquehanna to $293.
Hyperscalers running to power AI workloads turn Bloom Energy’s on-site fuel cells into critical infrastructure assets.
The analyst who called NVIDIA in 2010 recently named his top 10 stocks and Bloom Energy was not one of them. Get them here for FREE.

Two of Wall Street’s biggest firms have raised the bar Bloom Power (NYSE:BE) stock today following an explosive quarter. JPMorgan raised its price target on BE stock to $267 from $231 while maintaining an overweight rating, and Susquehanna raised its target to $293 from $173 with a positive rating. The two-way price increase reflects a clear institutional endorsement of Bloom Energy stock as a core AI infrastructure power play.

For savvy investors, the message is that Bloom Energy’s on-site fuel cell power has moved from a niche industry offering to a strategic asset in the race for hyperscalers to connect AI workloads to the grid. The question now is whether the data center power thesis can continue to converge from here. For more context on the need for AI power, see our recent coverage of data center power cuts.

A ticker	Company	It is strong	Action	Old Standard	A New Measure	Old Target	New Target
BE	Bloom Power	JPMorgan	The target price is raised	Being overweight	Being overweight	$231	$267
BE	Bloom Power	Susquehanna	The target price is raised	Good	Good	$173	$293

The Analyst’s Case

JPMorgan points to Bloom Energy’s Q1 2026 results being above expectations and an increase in guidance for fiscal year (FY) 2026 which came just two months after the previous revision. The Company considers the construction of margin leverage as a measure of business.

The analyst who called NVIDIA in 2010 recently named his top 10 stocks and Bloom Energy was not one of them. Get them here for FREE.

Susquehanna echoed that sentiment, citing Bloom Energy’s beat in earnings and earnings before interest, taxes, depreciation, and amortization (EBITDA), driven by strong delivery and margins. Bloom Energy executives told the analyst firm that the on-demand situation is growing as data centers chase any available power, and the FY revenue midpoint is now at $3.6 billion.

Company summary

Bloom Energy designs solid oxide fuel cell systems that deliver on-site, 24/7 electricity to commercial and industrial customers. Q1 2026 revenue jumped to $751.05 million, up 130.4% year-over-year (YoY), with non-GAAP earnings per share of $0.44 versus the $0.13 expected.

The company has 1.5 GW deployed at 1,200+ installations worldwide and reports a total backlog of $20 billion. Bloom Energy CEO KR Sridhar said, “Bloom is quickly becoming the standard and ‘choice’ for on-site energy.”

Why Moving is Important Now

Global development coincides with Oracle’s expanded partnership with Bloom Energy, which secures 2.8 GW of capacity for AI data centers, and a $5 billion strategic AI infrastructure partnership with Brookfield Asset Management. BE stock has been bullish, with a year-to-date advance of 161%.

Bloom Energy’s bull case hinges on accelerating demand for fuel cells, raising FY 2026 guidance from $3.4 billion to $3.8 billion, and gross margin expanding to ~34%. The bear case focuses on the cash flow, operating time, tax exposure, and risk that the hyperscaler capex will ultimately balance. For context, the broad analyst consensus target price remains at $166.96 for BE stock, well below where JPMorgan and Susquehanna currently stand.

What It Means For Your Portfolio

Bloom Energy’s stock offers real exposure to one of AI’s most tangible bottlenecks: energy delivery. The price target increases for both companies reflect growing confidence that fuel cells can solve a problem that grid operators can’t.

For long-term investors, bullish analyst signals warrant a close look at Bloom Energy, although the position size should include a beta of 3.185 and a rich P/E ratio of 164x. See if Bloom Energy’s margin strength holds as production capacity reaches 2 GW.