Analysts have been eager to weigh in on the Conglomerates sector with new ratings on Fuelcell Energy (NASDAQ:FCEL) and Caterpillar (NYSE:CAT).
Fuelcell Energy (FCEL)
In a report released today, Colin Rusch from Oppenheimer maintained a Buy rating on Fuelcell Energy, with a price target of $4. The company’s shares opened today at $1.12, close to its 52-week low of $1.
Rusch said:
“While we are seeing FCEL take a bit longer to ramp product revenue than we previously modeled, the company is moving its sales process forward effectively increasing its backlog plus project awards. We believe the next critical step for FCEL is to finalize PPA’s and close financing for its project awards. We continue to believe FCEL’s projects are highly attractive and numerous sources of capital are looking to provide funding at attractive rates for its projects. We remain constructive on shares as we believe FCEL is likely to finalize certain PPA’s soon and quickly proceed to closing financing and beginning construction driving volumes higher. We would expect increased volumes to immediately help GM performance.”
According to TipRanks.com, Rusch is a 4-star analyst with an average return of 11.4% and a 48.9% success rate. Rusch covers the Industrial Goods sector, focusing on stocks such as Capstone Turbine Corp, Amer Superconductor, and Canadian Solar Inc.
Fuelcell Energy has an analyst consensus of Strong Buy, with a price target consensus of $3.20.
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Caterpillar (CAT)
Caterpillar received a Hold rating from Oppenheimer analyst Noah Kaye today. The company’s shares opened today at $140.34.
Kaye noted:
“We are initiating coverage of Caterpillar (CAT), the leading global heavy equipment manufacturer, with a Perform rating. We positively view management’s ongoing efforts to mitigate earnings volatility through the cycle and believe CAT is underappreciated as a play on industrial autonomy and connected assets. However, while the Street may not be capturing structurally higher earnings power in the model, in our view the current valuation fairly does. We could become constructive on the shares following a pullback, improving macro clarity, and/or indicators of meaningful upside to the consensus FY19-20 revenue growth outlook.”
According to TipRanks.com, Kaye is a 4-star analyst with an average return of 6.3% and a 57.1% success rate. Kaye covers the Industrial Goods sector, focusing on stocks such as Rockwell Automation Inc, BorgWarner, and Cummins.
Caterpillar has an analyst consensus of Moderate Buy, with a price target consensus of $169.60.
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