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Fly News Breaks for October 25, 2016
FCEL
Oct 25, 2016 | 09:23 EDT
Roth Capital analyst Craig Irwin downgraded FuelCell Energy to Neutral after the company announced that the New England Clean Energy RFP did not select its Beacon Falls project for funding. The news is a "material negative" as the project likely had one of the most attractive cost structures in FuelCell's entire $2B pipeline, Irwin tells investors in a research note. He cut his price target for the shares to $4 from $7.50. FuelCell is down 39%, or $2.05, to $3.15 in pre-market trading.
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