FuelCell Energy (FCEL) stock tumbled after the company reported weaker-than-expected fiscal second-quarter 2026 results, including a wider-than-anticipated loss and a 5% year-over-year (YOY) decline in revenue. However, the earnings-driven selloff did little to shake Canaccord Genuity’s confidence in the company’s long-term prospects.
In a surprising vote of confidence, the firm upgraded FuelCell Energy to “Buy” from “Hold” and raised its price target to a Street-high $30 from $12, arguing that the company is uniquely positioned to capitalize on the rapidly growing artificial intelligence (AI) data center power market. The bullish call comes as FuelCell’s commercial pipeline has surged, with the vast majority of opportunities now tied to AI and data center customers, fueling expectations that a transformative contract announcement could be on the horizon.
