Investors were floored by Oracle’s surging revenue forecasts when it reported earnings last week, and now analysts are growing bullish on other names that could be lifted by its sales boom.
After a wildly upbeat cloud-computing forecast cemented Oracle as a prominent player in the AI race, the stock surged, and its momentum hasn’t subsided as demand continues to persist.
Oracle’s lifted a number of tech stocks last week, but a little known clean energy company might end up being one of the biggest winners. Bloom Energy announced an agreement to use its fuel cell technology to power Oracle’s data centers in late July, and now one of Wall Street’s top banks is feeling bullish on the stock.
Morgan Stanley on Tuesday doubled its price target for Bloom Energy shares, even after the stock has spiked more than 220% year-to-date.
The bank now sees the stock rising to $88 a share, representing another 16% from Tuesday’s intraday high.
Morgan Stanley thinks Bloom Energy offers a new type of exposure to the tech sector’s data-center boom.
In a September 16 note, analyst David Arcaro laid out his bullish case for the stock, highlighting the Oracle partnership as a key indicator of future growth.
“Bloom has an attractive partner in ORCL, and the company is among the only players able to increase its manufacturing quickly (<6mo to double capacity) and ship product on a short turnaround,” he said.
Arcaro and his team also noted that the demand for power sparked by new data centers is showing no signs of slowing. While both grid power and alternative energy sources face delays, the analysts see Bloom Energy’s partnership with Oracle as a clear edge over competitors.
“Management indicated that it would be shipping product to the first Oracle data center in 90 days and there are ‘many’ additional Oracle data centers that the company will be delivering to in the future,” Arcaro wrote.
Energy stocks are emerging as an alternative way into the AI boom. Nuclear power companies, in particular, have been the center of Wall Street’s energy trade in 2025, with companies like Oklo and Nucor seeing shares rally and nuclear-focused ETFs soaring on optimism for a renaissance in the sector spurred by power-hungry data centers.