FuelCell assumed with a Hold at Jefferies

Jefferies analyst Dushyant Ailani assumed coverage of FuelCell with a Hold rating and price target of $1.50, down from $2.75, after the company recently reported roughly in-line revenue and a bottom line miss in fiscal Q3. The firm is slightly increasing its FY23 revenue estimate as the Toyota Generation contract comes online, while lowering out year sales growth estimates on a more gradual solid oxide sales ramp forecast.