FuelCell Energy Stock Forecast

Stock Price Forecast

According to 8 analysts polled by S&P Global, FuelCell Energy stock has a consensus rating of "Hold" and an average price target of $22. The average 1-year stock price forecast is 4.61% higher than the current stock price, while the lowest is $8.00 (-61.96%) and the highest is $32 (+52.16%).

Price Target: $22 (+4.61%)

Analyst Consensus: Hold

Target	Low	Average	Median	High
Price	$8.00	$22	$23	$32
Change	-61.96%	+4.61%	+9.37%	+52.16%

Analyst Ratings

The average analyst rating for FuelCell Energy stock is "Hold". This means that analysts believe this stock is likely to perform similarly to the overall market.

Recommendation Trends

Rating	Jan '26	Feb '26	Mar '26	Apr '26	May '26	Jun '26
Strong Buy	0	0	0	0	0	3
Buy	0	0	0	0	0	0
Hold	6	6	6	6	6	3
Sell	1	1	1	1	1	1
Strong Sell	1	1	1	1	1	1
Total	8	8	8	8	8	8

Latest Forecasts

Analyst	Firm	Rating	Rating	Action	Price Target	Upside	Date
Ryan Pfingst B. Riley Securities	B. Riley Securities	Buy Upgrades $13 → $32	Buy	Upgrades	$13 → $32	+52.16%	Jun 29, 2026
George Gianarikas Canaccord Genuity	Canaccord Genuity	Buy Maintains $30	Buy	Maintains	$30	+42.65%	Jun 26, 2026
Julien Dumoulin Smith Jefferies	Jefferies	Buy Upgrades $16 → $24	Buy	Upgrades	$16 → $24	+14.12%	Jun 26, 2026
Manav Gupta UBS	UBS	Hold Maintains $7.25 → $22	Hold	Maintains	$7.25 → $22	+4.61%	Jun 26, 2026
Praneeth Satish Wells Fargo	Wells Fargo	Sell Maintains $8	Sell	Maintains	$8	-61.96%	Jun 25, 2026

More Analyst Ratings

Financial Forecast

Revenue This Year

155.03M

from 158.16M

-1.98%

from 158.16M

Revenue Next Year

226.86M

from 155.03M

46.33%

from 155.03M

EPS This Year

-1.78

from -7.40

EPS Next Year

-1.30

from -1.78

Fiscal Year	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	FY 2026
Period Ending	Oct 31, 2021	Oct 31, 2022	Oct 31, 2023	Oct 31, 2024	Oct 31, 2025	Oct 31, 2026
Revenue	69.59M	130.48M	123.39M	112.13M	158.16M	155.03M
Revenue Growth	-1.82%	87.52%	-5.43%	-9.13%	41.05%	-1.98%
Operating Income	-59.88M	-141.94M	-133.71M	-154.66M	-121.23M	-123.61M
Net Income	-101.06M	-142.72M	-107.57M	-126.01M	-187.90M	-155.88M
EPS	-	-	-	-	-7.40	-1.78
Free Cash Flow	-112.15M	-92.05M	-160.22M	-178.92M	-44.37M	-123.02M
No. Analysts	-	-	-	-	-	7

EPS and Forward PE are based on non-GAAP adjusted numbers.

Revenue Forecast

Revenue	2026	2027	2028
High	170.3M
Avg	155.0M
Low	144.4M

Revenue Growth

Revenue Growth	2026	2027	2028
High	7.7%
Avg	-2.0%
Low	-8.7%

EPS Forecast

EPS	2026	2027	2028
High	-1.68
Avg	-1.78
Low	-1.89

EPS Growth

EPS Growth	2026	2027	2028
High	-
Avg	-
Low	-