Roth Capital Downgrades FuelCell Energy (FCEL) to Neutral on Beacon Falls Miss
- Dow, S&P 500 surge to highs; transports set record
- Unusual 11 Mid-Day Movers 12/7: (ANTH) (EMKR) (PLAY) Higher; (SIGM) (OHAI) (FTK) Lower
- Abbott (ABT) Files Complaint to Terminate Alere (ALR) Acquisition
- Western Digital (WDC) Raises Q2 Outlook
- Biotech, Pharma Stocks Weaker Amid Trump Comments on Lower Drug Prices
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
Roth Capital downgrades FuelCell Energy (Nasdaq: FCEL) from Buy to Neutral and cuts its price target from $7.50 down to $4, noting that the New England Clean Energy RFP did not select the company's Beacon Falls project for funding.
The firm commented today:
- Energy RFP process. FuelCell Energy announced today that the New England Clean Energy RFP did not select the company's Beacon Falls project for funding. We interpret this as a material negative, as the Beacon Falls project likely had one of the most attractive cost structures (value propositions) in FuelCell Energy's entire $2bn pipeline.
- We expect management to take immediate and necessary actions to reduce the company's operating costs, or cash burn will be significantly higher than what is now reflected in our model
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Deutsche Bank Downgrades MGM Growth Properties (MGP) to Hold
- Credit Suisse Downgrades NetApp (NTAP) to Underperform
- Wedbush Raises Price Target on Francesca's (FRAN) Following 3Q Report
Create E-mail Alert Related CategoriesAnalyst Comments, Downgrades, Hot Comments
Related EntitiesRoth Capital
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!