Bloom Energy jumps after agreeing to supply fuel cells to AEP
** Shares of fuel-cell maker Bloom Energy BE.N up 49.8% at $19.76
** Stock hits highest in more than 21 months
** Co signed an agreement to supply up to 1 gigawatt of fuel cells to American Electric Power AEP.O
** Says that AEP has already placed an order of 100 megawatts (MW) of fuel cells for with further expansion orders expected in 2025
** Co says its fuel cells power artificial intelligence data centers
** At least five brokerages raise co's PT
** "We believe the deal is a positive for the stock, with the initial order alone providing ~25% visibility into our FY25 MW estimate, and allowing BE to leverage AEP's customer relationships, particularly with data centers," JP Morgan says
** "Timing of the remaining 900MW remains unclear, and we are skeptical on larger deployment on a timely basis with AEP" -Jefferies
** Including the session's gains, stock is up ~32% YTD
Reporting by Sourasis Bose in Bengaluru
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