Shares of Bloom Energy lost 7% on Friday as analysts at Credit Suisse kept the equivalent of a sell rating on the stock and a price target of $24, which represents 20% downside over Friday prices. In a note Friday, the analysts, led by Michael Weinstein, highlighted Bloom's fuel-cell improvements in the past six years, but kept the sell rating on valuation. Bloom shares rallied 9% on Wednesday likely on "investor perception of demand acceleration potential after the East Coast hurricane season," the Credit Suisse analysts said, but the shares gave up gains and are poised to end the week down 4%. Bloom priced its initial public offering in late July, raising about $270 million, and the stock has doubled.
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