Needham & Company Maintains a 'Hold' on FuelCell Energy (FCEL); Visibility Towards Breakeven Seems To Be Improving

Needham & Company maintains a 'Hold' on FuelCell Energy (NASDAQ: FCEL).

Needham analyst says, "FuelCell Energy is making progress towards ‘breakeven’ operating levels, in our opinion. We believe visibility is improving as the recent results highlight a growing backlog due to the large POSCO Power order with annual production rate increased by 60% annually. In addition, the product cost structure modesty improved (excluding a one-time charge). Maintain Hold rating, as we would like to see a more orders booked before becoming potentially more positive on FCEL shares."

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 $1.47 yesterday.

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