JPMorgan Starts Covering Fuel Cells

Analyst Brannon Cook rates various fuel cell players from Plug Power to FuelCell Energy.

Published: 01-Dec-2007

NEW YORK — A JPMorgan analyst began covering fuel cell makers Friday, saying demand from niche markets is growing.

Analyst Brannon Cook rated FuelCell Energy Inc. "Overweight" for its low-cost, efficient molten carbonate technology. He said the Danbury, Conn., company should get new contracts in Connecticut and from South Korea, where it has a partnership.

"We expect these awards anda revenue wins will provide a positive catalyst for the stock, and we believe they place FuelCell on a clearer path to profitability versus its fuel cell peers," Cook wrote.

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