Canaccord Genuity Maintains a 'Buy' on FuelCell Energy (FCEL); Q2 Preview
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Price: $18.36 -9.56%
Rating Summary:
6 Buy, 8 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
6 Buy, 8 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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Canaccord Genuity maintains a 'Buy' on FuelCell Energy (NASDAQ: FCEL), PT $4.50.
Canaccord analyst, John Quealy, says, "We maintain our rating heading into the Q2 call as a strengthening backlog and planned production expansion bring increased visibility on the path to profitability. While we look for signs of sustainable order momentum (ex. POSCO), cash burn bears monitoring near term...Beyond POSCO, CT remains a focus, as the company continues to pursue financing for 43.5MWs worth of projects. We note that regulatory developments in CT appear favorable, keeping optionality there intact."
"FuelCell will release Q2/11 results after the close on Monday June 6th, followed by a call the next day at 10am ET. We model revenue/EPS of $26.5M/$(0.10) ex. 1x charges vs. the Street at $27.9M/$(0.09). As a reminder, the company preannounced ~$9M in 1x Q2 charges related to the upgrade/repair of legacy of sixteen 1.2MW units."
For more ratings news on FuelCell Energy click here and for the rating history of FuelCell Energy click here.
Shares of FuelCell Energy closed at $1.84 yesterday.
Canaccord analyst, John Quealy, says, "We maintain our rating heading into the Q2 call as a strengthening backlog and planned production expansion bring increased visibility on the path to profitability. While we look for signs of sustainable order momentum (ex. POSCO), cash burn bears monitoring near term...Beyond POSCO, CT remains a focus, as the company continues to pursue financing for 43.5MWs worth of projects. We note that regulatory developments in CT appear favorable, keeping optionality there intact."
"FuelCell will release Q2/11 results after the close on Monday June 6th, followed by a call the next day at 10am ET. We model revenue/EPS of $26.5M/$(0.10) ex. 1x charges vs. the Street at $27.9M/$(0.09). As a reminder, the company preannounced ~$9M in 1x Q2 charges related to the upgrade/repair of legacy of sixteen 1.2MW units."
For more ratings news on FuelCell Energy click here and for the rating history of FuelCell Energy click here.
Shares of FuelCell Energy closed at $1.84 yesterday.
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