Bloom Energy Stock Rises on Barclays Upgrade and California Carbon Capture Deal with Carbon TerraVault

Bloom Energy shares jumped 7.2% after Barclays upgraded the fuel-cell maker to Overweight, citing faster demand and rising customer down payments. The rally also followed a non-binding letter of intent with California Resources Corporation and Carbon TerraVault to study pairing at least 1 GW of fuel-cell capacity with carbon capture and storage, potentially sequestering up to 3 million tonnes of CO2 annually. The deal is still exploratory, pending definitive agreements, permits, and financing. Separately, Bloom reported Q3 2026 revenue of $1.24 billion, up 138% year over year, and raised full-year guidance to $4.4-4.6 billion. Barclays trimmed its price target to $289 from $316, a reminder that an upgrade does not guarantee valuation. The carbon capture pact is a blueprint, not a booked order, but the demand signals from down payments and delivery commitments stand on their own.