Clean Energy Weekly Tearsheet: BE Beat and Raise, BMI Strong Momentum, INIO Contract Wins, BNEF Energy Storage Outlook

J.P. Morgan's clean energy weekly reviews covered stocks, which fell 3.9% on average last week and underperformed the S&P 500 (-0.4%); BMI rose 19.6% and SEDG gained 6.3%, while FRVO fell 16.9%. Bloom Energy (BE) reported 3Q results well above expectations and raised FY26 guidance for the third time this year, with backlog growing faster than revenue; we reiterate Overweight and lower our YE27 price target to $292 from $314. Badger Meter (BMI) posted a slight 3Q EPS beat, with revenue softness seen as timing-driven; we maintain Overweight, raise our Dec 2027 price target to $173 from $170, and call BMI our preferred water technology pick. Innio (INIO) booked a 620 MW follow-on order from a US hyperscale data center developer, bringing cumulative orders to about 1.72 GW. BNEF raised its 2026 US energy storage forecast by 58% to 90.7 GWh, including 7.4 GWh of on-site data center storage, peaking at 8.4 GWh in 2027.