Fuel Cell Stocks Rally Amid Bullish Analyst Comments

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The fuel-cell sector was absolutely on fire Wednesday as traders appear to be once again starting to favor the group. Shares of Plug Power
PLUG
closed Wednesday's session up nearly 18 percent to $5.05, shares of Ballard Power
BLDP
closed up 17.7 percent, shares of Hydrogenics
HYGS
finished up about 13.5 percent and shares of FuelCell Energy
FCEL
closed up 5.5 percent. Investors in the space appeared to be responding to some bullish sector-wide comments from analysts at Jennings Capital. The group of analysts, led by Dev Bhangui, highlighted the "increasing competitiveness of the Fuel Cell sector with other green alternatives for stationary and motive power." Bhangui believes demand for stationary back-up power around the globe -- especially in the emerging markets -- "will continue to rise." Bhangui initiated coverage on shares of Ballard Power Wednesday, starting the stock with a Buy rating and $4 price target. He called the name "a pioneer ahead of its time."
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