FuelCell price target lowered to $8.40 from $15 at Jefferies

Jefferies lowered the firm’s price target on FuelCell (FCEL) to $8.40 from $15 and keeps a Hold rating on the shares after the company reported a top-line beat in fiscal Q4 and said it expects a “material improvement” in FY25, but expects to fall short of its greater than $300M FY25 topline target. Given the Gyeonggi Green Energy deployment cadence, the firm expects a light Q1, with revenue ramping as more modules are deployed, the analyst tells investors.