Rodman & Renshaw Starts FuelCell Energy (FCEL) at Market Outperform
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Rodman & Renshaw initiates coverage on FuelCell Energy Inc. (Nasdaq: FCEL) with a Market Outperform rating and $6.25 price target.
The firm said, "We believe the FCEL s proprietary and patented DFC (Direct FuelCell) technology is a key competitive differentiator and positions the company as one of the few public plays that seek to capture multi megawatt distributed generation opportunities through deployment of stacked fuel cells. Growth for the company should come from management s focus on quickly moving the company towards expanded commercialization and rationalizing production costs."
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