FuelCell Energy (FCEL) Surges Following Beacon Falls Positive Draft Opinion

January 8, 2016 9:31 AM EST
Get Alerts FCEL Hot Sheet
Price: $0.94 +2.17%

Rating Summary:
    2 Buy, 12 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 8 | Down: 11 | New: 16
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FuelCell Energy (NASDAQ: FCEL) is surging (+18%) in early trade after analyst Jeffrey Osborne notes The Beacon Falls draft decision was unanimously approved by the CSC.

"If final approval is granted we estimate the total value of this project to be ~$500mn, split between $200mn in equipment revenue and $300mn in service revenue. The project will likely be in phases with construction beginning by 2Q16 and providing a steady order flow through mid-2018."

The firm reiterated an Outperform rating and price target of $23 on FCEL.

For an analyst ratings summary and ratings history on FuelCell Energy click here. For more ratings news on FuelCell Energy click here.

Shares of FuelCell Energy closed at $5.32 yesterday.

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