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Akanksha Bakshi

Craig-Hallum Cuts FuelCell Energy Price Target By Half - Read Why

FuelCell Fuelcell Energy FCEL Company FuelCell Energy Inc Nasdaq

FuelCell Energy Inc (NASDAQ:FCEL) price target has been lowered to $3 (a downside of 19%) from $6 by Craig-Hallum analyst Eric Stine.
The analyst maintained the Hold rating on the shares.
Stine specified that the company reported Q2 results well below expectations, with backlog up modestly on a sequential basis.
Related: FuelCell Energy Shares Slide Post Q2 Miss
FuelCell continues to demonstrate excellent momentum in expanding its Generation Portfolio, although the analyst would want to see additional product traction beyond POSCO Holdings (NYSE:PKX).
Price Action: FCEL shares are trading lower by 2.24% at $3.72 on the last check Friday.
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