- FuelCell Energy (FCEL -0.3%) merits a big target price boost to $4.10 from $2.30 from Stifel, which reiterates its Buy rating as it foresees sizable wins over the coming months to drive further investor interest in the stock and pave a path to profitability.
- FCEL’s star has risen and fallen alongside Plug Power (PLUG +10.7%), which mostly supplies fuel cell products for warehouse equipment such as forklifts; fuel cell-powered forklifts may need tax credits, but FCEL produces power that is priced competitively with or without subsidies, Stifel says.
- Cowen analysts earlier took a different approach, downgrading shares to Market Perform in the belief that most of the headway the company would make this year is already factored in the current share price.