FuelCell Energy (FCEL) Added to FBR Alpha Generator; Sees Multiple Near-Term Catalysts
- Donald Trump Sworn in as 45th U.S. President
- Wall Street off day's best levels after Trump inaugural speech
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Herbalife (HLF) Says SEC Requested Documents on Anti-Corruption Compliance in China; Reviewed with DoJ
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
FBR Capital added FuelCell Energy (NASDAQ: FCEL) to its Alpha Generator list while reiterating an Outperform rating and price target of $9.00. The analyst cited near-term catalysts.
Analyst Carter Driscoll commented, "We are updating our Alpha Generator pick to Outperform-rated FCEL. We believe multiple positive catalysts over the next couple of months should drive revenue growth and an enhanced margin profile, pushing the stock higher. We remind investors of three near-term potential catalysts, which we outline below, as well as the new PPA model FCEL has in place. For catalysts, we believe FCEL is well positioned to win deployments from three different clean-oriented RFPs with approximately 80 MW in potential fuel cell deployments. We believe the current share price does not reflect these near-term awards."
The analyst sees for main catalysts:
Catalyst 1: Before the end of 2016, we expect FCEL to win the 63.3 MW Beacon Falls project due to its superior economic profile and other positive qualitative characteristics...
Catalyst 2: We believe the second catalyst will come when FCEL announces the carbon capture site selection with the DOE...
Catalyst 3: We believe the third catalyst could come as soon as January 2017 when PSE&G announces the awards of its Long Island-based 40 MW fuel cell RFP.
Catalyst 4: Finally, we believe Congress may extend the Investment Tax Credit (ITC) for fuel cells, similar to what the solar industry received last December, improving the economic payback for fuel cell installations.
Shares of FuelCell Energy closed at $5.30 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- JPMorgan Downgrades Endo International plc (ENDP) to Neutral
- Rite Aid (RAD)/Walgreens (WBA) Antitrust Concerns Doesn't Mean Deal is Dead, Says Deutsche Bank
- Union Pacific (UNP) PT Raised to $120 at Aegis Capital Following Solid 4Q
Create E-mail Alert Related CategoriesAnalyst Comments, Hot Comments
Related EntitiesFBR Alpha Generator
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!