- FuelCell Energy (FCEL -3.6%) is downgraded to Market Perform from Outperform but with a new $2.70 price target, up from $2, at Cowen, which says recently completed fuel cell parks in Connecticut and Korea should open a $12B opportunity, and H1 orders should drive FY 2014 and Q4 revenue and gross margins to EBITDA break-even.
- The firm is eyeing a back-half 2014 weighting to shipments, with a higher mix of full power plant projects vs. kit sales helping lift revenue to ~$68M in Q4 vs. $44M in Q1, and lift gross margin to 12% from 4.9%; in addition to volume, production cost improvements include process upgrades such as automated laser welding.
- However, fuel cell peers Plug Power (PLUG +18.1%) and Ballard Power (BLDP +8.5%) are bouncing from yesterday's huge losses.
From other sites
at Benzinga.com (Feb 27, 2015)
at Benzinga.com (Jan 15, 2015)
at Nasdaq.com (Dec 15, 2014)
at Fox Business (Oct 9, 2014)
at MarketWatch.com (Sep 9, 2014)
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