FuelCell Energy Pipeline Triples to 4GW; Price Targets Climb to $16 and $30
FCEL•FuelCell Energy’s premarket shares rose over 4% after Jefferies lifted its price target to $16 from $7.20 and B. Riley raised its target to $13 while Canaccord upgraded to Buy with a $30 target. CEO Jason Few reported the sales pipeline tripled quarter-over-quarter to 4 gigawatts with 89% data center interest.
1. Premarket Gains
Shares of FuelCell Energy rose over 4% in premarket trading as bullish analyst outlooks lifted investor sentiment before market open.
2. Analyst Price Target Increases
Jefferies raised its target to $16 from $7.20 and retained a Hold rating, while B. Riley increased its target to $13 and Canaccord upgraded to Buy with a $30 target, signaling growing confidence in FuelCell’s prospects.
3. Expanding Sales Pipeline
CEO Jason Few reported that the commercial pipeline expanded to 4 gigawatts, a 250% increase quarter-over-quarter, driven largely by prospective data center customers, which now account for 89% of the total pipeline.
4. Q2 Financial Recap
FuelCell Energy posted a Q2 loss of $1.45 per share on $35.6 million in revenue, missing consensus estimates but highlighting potential growth areas in data centers, utilities, distributed power, and industrial markets.
