Bloom Energy (BE) Stock Forecast & Price Target

Bloom Energy's favorable demand outlook is supported by its expanding order book, which is projected to grow significantly, facilitating a solid trajectory toward increased shipments and higher revenue. The anticipated growth in commercial load, particularly highlighted by AEP's 20% CAGR forecast, further strengthens the company's potential for robust order growth. As a result, financial estimates have been revised upward, reflecting expectations of substantial revenue increases and healthy margins over the coming years.

Bloom Energy's projected revenue for 2025 is approximately $1.7 billion; however, when excluding significant transactions, the remaining business is anticipated to decline by over 25%, translating to about $0.8 billion. Several risks are highlighted, including weaker than expected margins, challenges in managing working capital, execution risks, and potential lower demand for Advanced Energy Purchase (AEP) customers than currently estimated. Furthermore, the company is expected to face an operating capacity shortfall of approximately 1.9 GW by 2027, alongside concerns regarding power grid integration and prior tendencies of overpromising, suggesting a cautious outlook for Bloom Energy's financial performance.