Shares of FuelCell Energy Inc. FCEL,
it fell 7.1% in pre-sale trading on Thursday, after JP Morgan analyst Paul Coster turned bearish on the other energy company, suggesting it should be worth about half of its latest closing price at the stock. Coster cut its rating to be too light from neutral and set a $ 10 stock price target, which is 47.8% below Wednesday’s close of $ 19.14. Coster likes the company, because it says it has “strong backing and a strengthened balance sheet. He states that FuelCell’s choice favors the flexibility of its molten-carbonate technology in industrial applications, and that it envisages a “break-even deal” in the industrial, chemical or energy sector. there, Coster said he believes the stock has a valuable value at current levels.The stock had risen 80.4% amid a seven-day win climb to close Wednesday at the highest price since June 2018 Separately, Coster started another power company Plug Power Inc. PLUG,
with a neutral rating, saying that while the stock is its top choice in the hydrogen substitute, the price is “full value.” FuelCell stock has skyrocketed nearly eightfold (up 687.7%) over the past three months through Wednesday, while the S&P 500 SPX,
dealt with 9.2%.