UBS lowered the firm’s price target on FuelCell (FCEL) to $4.50 from $13.75 and keeps a Neutral rating on the shares. The company is reducing costs and shifting a focus towards greenfield and brownfield data center opportunities, the analyst tells investors in a research note. The firm cut estimates to reflect near-term macro headwinds, but says that in the longer term, the need for natural gas based power continues to grow, which should benefit FuelCell.
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