RBC Capital Markets’ senior analyst Chris Dendrinos says Bloom Energy (BE) stock is poised for a meaningful recovery in the final quarter of 2026.
In a research note, Dendrinos maintained his Outperform rating on the fuel cells firm, with a $335 price target indicating potential upside of a little under 30% from its previous close.
Bloom Energy stock surged 12% on Tuesday.
Bloom Energy shares have been a blockbuster investment in 2026, but are currently down roughly 15% versus its year-to-date high.
Why RBC recommends buying Bloom Energy stock
Dendrinos highlights that BE’s solid oxide fuel cell tech remains uniquely positioned to solve the immediate power grid constraints facing artificial intelligence (AI) data centers.
As hyperscalers scramble to secure off-grid, reliable electricity, the company’s “rapid-deployment” solutions provide a critical bridge where traditional utility interconnections face multi-year delays.
RBC emphasizes that despite recent volatility following BE shares’ surge in 2026, the underlying demand drivers are stronger than ever.
All in all, expanding commercial partnerships, favourable clean energy momentum, and a massive pipeline of data center backlog reinforce the analyst’s high conviction.
Note that Bloom Energy ripped through its 20-day moving average (MA) today, suggesting bulls have now taken back control for the near-term.
What else could drive BE shares higher in 2026?
In his research note, Chris Dendrinos pointed to “key operational catalysts” in late 2026 expected to spark a rebound in Bloom Energy stock.
The clean energy company is entering the final quarter with accelerating manufacturing throughput and improving unit economics, positioning it to deliver strong top- and bottom-line performance.
According to the RBC analyst, the year-to-date retreat offers an “attractive entry point” ahead of anticipated project completions and new order announcements.
With manufacturing scale lowering cost structures and operating leverage kicking in, the analyst expects that expanding profit margin will reassure investors, validating his case that Bloom Energy offers a compelling, underpriced growth runway heading into year-end.
Wall Street’s consensus view on Bloom Energy
Underpinning Chris Dendrinos’ bullish outlook is Bloom Energy’s aggressive capacity expansion, highlighted by the ramp-up at its landmark Fremont manufacturing facility.
The RBC analyst notes that scaling up production infrastructure directly targets the immense order backlogs from energy-intensive sectors.
By expanding its physical footprint and optimizing manufacturing lines, BE is actively reducing production bottlenecks that previously throttled delivery schedules.
He stresses that this structural scaling not only bolsters operational reliability but also reinforces Bloom’s competitive moat as a primary off-grid power provider.
As factory utilization rates climb heading into year-end, this expanded capacity provides a clear, actionable pathway toward sustaining hyper-growth throughout 2026 and beyond.
Investors should note, however, that not all Wall Street analysts are as bullish on BE stock as Chris Dendrinos. While the consensus rating on the firm sits at Overweight as of writing, the mean price target of $287 is already below its current share price.
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