AI Data Center Demand to Fuel Clean Tech Order Inflection, Morgan Stanley Says

Clean technology companies exposed to data centers, battery storage, and onsite power, including GE Vernova (GEV) and Bloom Energy (BE), are poised to see a strong inflection in orders driven by artificial intelligence energy demand, Morgan Stanley said Thursday in a Q2 earnings preview note. Citing these secular tailwinds, the firm refreshed its models, raising its price target on First Solar (FSLR) to $245 from $230 with an overweight rating, and bumping Plug Power (PLUG) to $1.65 from $1.50 with an underweight rating. Morgan Stanley defended Bloom Energy following a short report published yesterday, calling the bearish arguments surrounding scandium supply and financing structures "overblown" and reconfirming its overweight rating and $310 price target. The firm also maintained an overweight rating on GE Vernova with a $1,250 price target, labeling it an energy transition powerhouse positioned to benefit from secular global power trends and higher gas turbine contracts. Other infrastructure-linked names expected to see upside surprises in data center and OEM orders include Fluence Energy (FLNC), Innio (INIO), and Shoals Technologies Group (SHLS). Still, analysts at.