Bloom Energy (NYSE:BE) is stealing the spotlight, with shares rocketing nearly 50% today to a new 52-week high of $20.95. This follows a 20% surge last week after a stronger-than-expected earnings report and another boost with the announcement of a massive deal with American Electric Power (NASDAQ:AEP) yesterday. Despite a 17.5% revenue drop in Q3 to $330.4 million, Bloom reaffirmed its full-year guidance, projecting revenue between $1.4 billion and $1.6 billion. Analysts aren't just watchingthey're jumping on board, with Piper Sandler upgrading the stock to "Overweight" and doubling the price target to $20.

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Yesterday's agreement with AEP is driving the latest rally. The deal, the largest of its kind in the fuel cell sector, involves up to 1 gigawatt of Bloom's solid oxide fuel cells to power AI data centersa major milestone for clean energy innovation. CEO KR Sridhar called it a game-changer, solidifying Bloom's ability to meet skyrocketing energy demands with scalable, low-emission solutions. This news builds on Bloom's recent announcement of a collaboration with SK Eternix to create the world's largest single-site fuel cell installation, set to go live in 2025.

Momentum is on Bloom's side, with investors buzzing over its strategic wins and analysts revising their targets upward despite quarterly revenue hiccups. The company is positioning itself as a key player in the clean energy revolution, with a proven ability to execute on large-scale projects. For anyone eyeing the energy transition space, Bloom Energy just made a strong case for being at the center of it all.

This article first appeared on GuruFocus.