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Movers

Bloom Energy jumps about 10% after Barclays upgrade on faster-growing demand

The fuel cell maker rose after Barclays moved to overweight, pointing to rising customer deposits and new supply commitments.

· AP's Morning Brief

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Bloom Energy shares climbed on Tuesday after Barclays upgraded the fuel cell maker to overweight from equal weight, saying demand is picking up faster than the bank had expected.

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Barclays analyst Christine Cho pointed to accelerating capacity expansion, rising customer deposits and new supply commitments as signs that the company's backlog is growing, according to Investing.com. Customer deposits rose to $661 million in the third quarter from $78 million at the end of 2025. Bloom also disclosed about $5.8 billion in long-term supply commitments through 2029, and Cho estimated that roughly $150 million of third-quarter capital spending added about 1 gigawatt of manufacturing capacity.

The bank trimmed its price target to $289 from $316, according to Investing.com and TipRanks, a level that still sits well above where the stock is trading. Cho also flagged a risk: funding inventory and new capacity ahead of revenue could keep 2027 free cash flow below Wall Street expectations.

The stock was trading at $214.93 as of 1:13 p.m. ET on the New York Stock Exchange, up $18.68, or 9.52%, from Monday's regular-session price of $196.25, according to Nasdaq.com quote data. Prices can keep moving through the session.

Sources

  1. Investing.com — Nov. 3, 2026: Barclays upgraded Bloom Energy to Overweight from Equal Weight; price target trimmed to $289 from $316; analyst Christine Cho; customer deposits $661 million in Q3 vs $78 million at end of 2025; about $150 million capex adding roughly 1 gigawatt; about $5.8 billion long-term supply commitments through 2029; 2027 free cash flow could trail Street; prior-session price $196.25.
  2. TipRanks (TheFly) — Barclays upgraded Bloom Energy (BE) to Overweight from Equal Weight with a price target of $289, down from $316; demand ramping faster than expected.
  3. CNBC — Bloom Energy gained nearly 10% midday after Barclays upgrade to overweight citing higher-than-expected demand; target $289.
  4. Nasdaq.com quote (BE) — BE last sale $214.9325 (about $214.93), net change +18.6825 (about +18.68), +9.52% as of Nov 3, 2026 1:13 PM ET, market open; implied Nov. 2 regular-session price $196.25.
  5. Yahoo Finance (BE chart data) — BE Nov 2, 2026 regular-session price $196.25; Nov 3 price $214.95 at about 1:13 PM ET.