FuelCell price target raised to $7 from $5 at Wells Fargo

Wells Fargo raised the firm’s price target on FuelCell (FCEL) to $7 from $5 and keeps an Underweight rating on the shares. The company’s fiscal Q4 results beat estimates and FuelCell continues to raise production, the analyst tells investors in a research note. Wells cites the company’s “long pathway” to profitability and ongoing equity issuance for the sell rating.