This Analyst Just Upgraded FuelCell Stock. Here's Why.

Jefferies upgraded FuelCell Energy (FCEL) to a "Buy" on Friday, simultaneously raising its price target to $24. The upgrade was catalyzed by FCEL's newly announced strategic partnership with Fit Energy U.S., which establishes a multi-phase agreement to supply up to 380 megawatts of clean baseload fuel cell power for data center infrastructure.

Including today's pop, FuelCell stock is trading up more than 225% versus the start of this year.

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The Jefferies analyst characterized FCEL shares' investment narrative as having shifted from a speculative "show me" story to one centered on executing against a visible and growing backlog.

The firm specifically highlighted what it called a "deep valuation discount" relative to competitor Bloom Ene

Fuente original: Yahoo Finance (https://finance.yahoo.com/markets/stocks/articles/analyst-just-upgraded-fuelcell-stock-210540921.html)