JPMorgan Starts FuelCell Energy (FCEL) at Overweight, Says Co Pivoting into Profitability and Toward Growth

October 8, 2020 1:26 AM EDT
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Price: $6.12 -5.26%

Rating Summary:
    2 Buy, 9 Hold, 3 Sell

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Today's Overall Ratings:
    Up: 13 | Down: 26 | New: 41
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(Updated - October 8, 2020 8:29 AM EDT)

(updating comment)

JPMorgan analyst Paul Coster initiates coverage on FuelCell Energy (NASDAQ: FCEL) with a Overweight rating.

The analyst comments "After many years of investment and cash-burn, the company, with a recently-strengthened balance sheet, now seems poised to pivot into profitability by converting project backlog into recurring revenues, and drive strong long-term growth from accelerating adoption of distributed generation solutions, and early-stage adoption of Carbon Capture and Hydrogen-based energy storage solutions. Near-term catalysts include major projects with Exxon Mobil, Toyota and the introduction of a solid oxide fuel cell and electrolyzer solutions geared toward Hydrogen."

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 $2.16 yesterday.

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