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Why FuelCell Energy Stock Just Popped

TheMotleyFool

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Why FuelCell Energy Stock Just PoppedPhoto, wide shot, wide-angle lens, Hedge fund, neutral atmosphere, photo by Charlie Waite: https://img.theapi.app/temp/95282efd-f725-49c0-be40-aa74627f7ccc.png

FuelCell Energy (NASDAQ: FCEL) stock soared 22% through 12:15 p.m. ET on Friday after analysts at investment bank H.C. Wainwright raised their price target on... another stock entirely.

Wainwright more than doubled its price target on FuelCell rival Plug Power (NASDAQ: PLUG) this morning, from $3 to $7 a share. They said not a word about FuelCell, but because both stocks are in the hydrogen fuel cell sector, investors appear to be assuming that what's good news for Plug Power must be good news for FuelCell, too.

Image source: Getty Images.

Source Fool.com

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