FuelCell Energy jumps as UBS upgrades to 'Buy'

** Shares of FuelCell Energy (FCEL.O) rise over 9% to $20.85 premarket after UBS upgrades the renewable power company to "buy" from "neutral"

** The brokerage also raises its price target on the stock from $22 to $27, an upside of 41.5% from its Monday close

** Says upgrade driven by FCEL's recent deal with Fit Energy, its newly announced product-development collaboration with Siemens and an ability to capture demand left by rivals shifting their focus toward significantly larger orders

** "If FuelCell Energy's solution performs as expected, we believe Fit Energy could ultimately move forward with the remaining ~350 MW outlined in the agreement" - UBS

** Adds that a potential significant follow-on order and any capacity expansion announcement can improve revenue visibility and be catalysts for the stock

** As of last close, FCEL shares up 161% YTD