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Fly News Breaks for February 13, 2020
BE
Feb 13, 2020 | 08:00 EDT
Morgan Stanley analyst Stephen Byrd said Bloom Energy's announcement that it must restate a portion of its previously recorded financials has "poor optics," but noted that the change has no impact on cash flow, customers, partners, or underlying fundamentals. While the news may add complexity and leave "lingering accounting concerns" for investors, Byrd is leaving his $22 valuation unchanged and keeps an Overweight rating on Bloom shares, which are down $1.91, or 18.3%, to $8.55 in pre-market trading.
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