FuelCell price target lowered to $1.50 from $2 at Canaccord

Canaccord lowered the firm’s price target on FuelCell to $1.50 from $2 and keeps a Hold rating on the shares. The firm said while operational results disappointed mostly due to the lack of modules sales and replacements, 1Q is expected to be the “low water mark” for 2024 financials according to management.