Benzinga | Oct 15, 2021 01:35PM EDT

Truist Analyst Begins With 'Hold' On This Electric Power Solutions Provider

* Truist analyst Tristan Richardson initiated Bloom Energy Corp (NYSE:BE) with a Hold rating and a price target of $25, implying an upside of 16%.

* Richardson says that Bloom Energy offers a "unique" C&I opportunity as the solid oxide fuel cell technology that Bloom has developed is focused on always-on baseload power.

* The analyst cites expectations of accelerating positive trends in Solar & Energy Storage, with global policy frameworks around decarbonization driving policy support, along with expectations of 20% growth in residential installations for 2022 and 2023 after a "substantial rebound" coming in 2021.

* Price Action: BE shares are trading lower by 1.63% at $21.47 on the last check Friday.