FuelCell +7.6% as Stifel says company is moving from R&D to reality

|About: FuelCell Energy, Inc. (FCEL)|By:, SA News Editor

FuelCell Energy (FCEL +7.6%) powers higher after Stifel gives a Buy recommendation and sets a $2.90 target price, believing the company is successfully transitioning its stationary fuel cell power plant solution from the R&D stage to an economically deployable renewable energy technology with a potential to become a part of the baseload generation mix.

FCEL has made progress in reducing its technology and manufacturing costs, Stifel says, and its fuel cell power plant solution is becoming increasingly attractive in several states following a decline in the cost of electricity generated by the product.

Other fuel cell stocks are rising too, including Ballard Power (BLDP +10.6%) and Plug Power (PLUG +6.2%).