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Fly News Breaks for March 4, 2016
FCEL
Mar 4, 2016 | 09:26 EDT
FBR Capital analyst Carter Driscoll attributes the recent rally in FuelCell shares partly to expectations that the company will soon receive final approval for its proposed fuel cell park in Beacon Falls, Connecticut. Final approval could come as soon as March 11 and the transition of equipment sales from pipeline into backlog would be a clear positive for the shares, said Driscoll, who warned, however, that FuelCell could see some weakness after reporting Q1 results on March 10 following their recent run-up. The analyst has an Outperform rating and $8 price target on the stock.
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