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Cowen & Co. Thinks Fuelcell Energy’s Stock is Going to Recover


Cowen & Co. analyst Jeff Osborne maintained a Buy rating on Fuelcell Energy (FCEL) on November 5 and set a price target of $3. The company’s shares closed yesterday at $0.91, close to its 52-week low of $0.72.

According to TipRanks.com, Osborne ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -3.9% and a 38.6% success rate. Osborne covers the Industrial Goods sector, focusing on stocks such as Ballard Power Systems, TPI Composites Inc, and Acuity Brands.

Fuelcell Energy has an analyst consensus of Strong Buy, with a price target consensus of $3.33, implying a 266.6% upside from current levels. In a report issued on November 5, B.Riley FBR also assigned a Buy rating to the stock with a $3.50 price target.

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Based on Fuelcell Energy’s latest earnings release for the quarter ending July 31, the company reported a quarterly GAAP net loss of $15.88 million. In comparison, last year the company had a GAAP net loss of $9.98 million.

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FuelCell Energy, Inc. designs, manufactures, sells, installs and services stationary fuel cell power plants for distributed power generation. It offers renewable power markets. Its services also include engineering, procurement, and installation; and training.