- Craig-Hallum analyst Eric Stine upgraded FuelCell Energy Inc (NASDAQ:FCEL) to Hold from Sell and raised the price target to $5, from $4, as an improved Product outlook and Carbon Capture progress outweighs "an ugly Q4."
- The analyst notes that FuelCell remains a company in transition as it will take time and capital to get to a sustainable business, and it still sports a lofty valuation.
- Stine believes it is done going down with upward revenue estimate revisions likely, an improved Product outlook with the resumption of orders and revenues in FY22, progress being made toward Carbon Capture next steps with Exxon Mobil Corp (NYSE:XOM), and year-end tax-loss selling nearing an end.
- Canaccord Genuity analyst Jed Dorsheimer lowered the price target to $5.5 (an upside of 1.1%) from $7 and maintained a Hold rating on the shares.
- B. Riley Securities analyst Christopher Souther lowered the price target to $6 (an upside of 10.3%) from $8 and maintained a Neutral rating on the shares.
- Also read, Chart Wars: Between Plug Power And FuelCell Energy, One Stock Appears Set To Go Higher In 2022.
- Price Action: FCEL shares are trading higher by 6.29% at $5.43 on the last check Thursday.
