Cowen Remains Bullish on FuelCell Energy (FCEL) Following an Investor Tour

Cowen reiterates an Outperform rating and $3.00 price target on FuelCell Energy (NASDAQ: FCEL) following an investor tour to visit the Torrington mfgr. plant. Analyst Jeffrey Osborne came away feeling upbeat about project opportunities, but notes that management exuded an air of confidence around the pace of orders in the future.

Osborne commented, "We hosted an investor tour to visit the Torrington mfgr. plant, Bridgeport's 14.9MW fuel cell park as well as had an opportunity to sit down with management. We came away feeling comfortable with our bullish stance on FCEL shares and believe the stock is oversold at current levels. We see several projects coming to a late stage of development in NY/CT and likely regulatory approval in 3-6 months."

For an analyst ratings summary and ratings history on FuelCell Energy click here. For more ratings news on FuelCell Energy click here.

Shares of FuelCell Energy closed at $0.88 yesterday.

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