Bloom Energy Stock Rockets 13% on Oracle Reaffirmation

Bloom Energy's stock surged 13% on Tuesday after Oracle reaffirmed its commitment to the Project Jupiter deal, which includes a 2.4 GW fuel cell order.

The move comes as Bloom continues to expand its manufacturing capacity in Fremont, California, with RBC Capital pointing to strong customer demand and Morgan Stanley's David Arcaro calling it a sign of continued growth.

RBC kept its Outperform rating on the stock and $335 price target, while Jefferies raised its price target to $264 from $229 and maintained a Hold rating. The company's stock traded as high as $291.72 intraday, within a 52-week range of $70.89 to $351.28.