Form 8-K FUELCELL ENERGY INC For: Mar 10

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Go back to Form 8-K FUELCELL ENERGY INC For: Mar 10

FuelCell (FCEL) Pipeline Looks Robust; Cowen Maintains at 'Outperform'

March 12, 2015 9:37 AM EDT

Cowen and Company affirms FuelCell Energy (Nasdaq: FCEL) at Outperform with a $3 price target following quarterly results and a conference call from management.

Analyst Jeffery Osborne noted the following highlights from FuelCell's quarterly call:

Light on Top Line Revenue, Impacted by Election to Hold Assets On Balance Sheet; Gross Margin and EPS Remain Strong

FuelCell reported revenue of $41.7 million, which was below our and consensus estimates of $48.1 million and $48.0 million, respectively. Management commented that revenue for the quarter would have been $5 to $6 million higher had they not retained a project on... More