FuelCell price target lowered to $2.00 from $3.00 at Canaccord

Canaccord analyst George Gianarikas lowered the firm’s price target on FuelCell to $2.00 from $3.00 and keeps a Hold rating on the shares. The firm noted they reported a mixed July quarter with a healthy backlog increase but weaker than-expected revenue. Canaccord said they are awaiting additional signposts for product success or more clear hydrogen guidance from Treasury before becoming more positive on the shares.