Canaccord Genuity’s senior analyst George Gianarikas upgraded FuelCell Energy (FCEL) on June 9 from “Hold” to “Buy,” and more than doubled his price target to $30 per share.
The upgrade represents about 100% potential upside from FCEL’s prior closing price and reflects growing conviction that the company is on the verge of securing a transformative data center deal before the end of its current fiscal year.