Shares of Bloom Energy Corp. /zigman2/quotes/209802424/composite BE +14.82% surged 1.5% toward a 19-month high in morning trading Thursday, after Morgan Stanley analyst Stephen Byrd said the alternative-energy company's dive into the hydrogen market gave him another reason to be bullish. The stock's gain follows the 34.8% rocket ride higher on Wednesday to the highest close since November 2018, after the company said it was making thehydrogen-powered fuel cells and a new product, electrolyzers, which produces green hydrogen, to be sold in South Korea next year through a partnership with SK Group. "These initiatives open incremental markets for [Bloom Energy] and put the stock on the list of hydrogen plays, which are growing in interest for investors," Byrd wrote in a note to clients. He reiterated the overweight rating he's had on the stock since August 2018, and kept his price target at $21. The stock has more than doubled (up 139.9%) year to date, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.30% has lost 0.8%.