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Benzinga
Benzinga
Business
Akanksha Bakshi

Craig-Hallum Cuts FuelCell Energy Price Target By Half - Read Why

FuelCell Fuelcell Energy FCEL Company FuelCell Energy Inc Nasdaq
  • FuelCell Energy Inc (NASDAQ:FCEL) price target has been lowered to $3 (a downside of 19%) from $6 by Craig-Hallum analyst Eric Stine.
  • The analyst maintained the Hold rating on the shares.
  • Stine specified that the company reported Q2 results well below expectations, with backlog up modestly on a sequential basis.
  • Related: FuelCell Energy Shares Slide Post Q2 Miss
  • FuelCell continues to demonstrate excellent momentum in expanding its Generation Portfolio, although the analyst would want to see additional product traction beyond POSCO Holdings (NYSE:PKX).
  • Price Action: FCEL shares are trading lower by 2.24% at $3.72 on the last check Friday.
  • Photo Via Company
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