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Wajeeh Khan

This Analyst Just Upgraded FuelCell Stock. Here's Why.

FuelCell FCEL Jefferies Fuelcell Energy

Jefferies upgraded FuelCell Energy (FCEL) to a “Buy” on Friday, simultaneously raising its price target to $24. The upgrade was catalyzed by FCEL’s newly announced strategic partnership with Fit Energy U.S., which establishes a multi-phase agreement to supply up to 380 megawatts of clean baseload fuel cell power for data center infrastructure.

Including today’s pop, FuelCell stock is trading up more than 225% versus the start of this year.

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