Movement Alert|FuelCell Energy Rises 8.67% in Pre-Market Trading, Jefferies Upgrade to Buy Continues to Drive Momentum

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On June 29, FuelCell Energy rose 8.67% in pre-market trading, trading at $26.08/share, with turnover of $2.548 million. The rally reflects continued momentum from Jefferies upgrading the stock from hold to buy last Friday, which triggered an 18.47% surge on trading volume of 17.1 million shares — nearly double the daily average of 9.2 million.

Adding to the bullish sentiment, UBS simultaneously raised its price target from $7.25 to $22, while maintaining a neutral rating. The analyst consensus mean target now stands at $18.83. These upgrades follow the company's announcement of a strategic agreement with Fit Energy USA LP to provide up to 380 megawatts of clean power for data centers using its fuel cell technology. The deal includes an immediate deposit for an initial 30MW deployment expected to begin delivery later this year, with warrant structures tied to future milestones up to 380MW.

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