Analysts Are Bullish on Top Conglomerates Stocks: Gentex (GNTX), Fuelcell Energy (FCEL)

There’s a lot to be optimistic about in the Conglomerates sector as 2 analysts just weighed in on Gentex (GNTXResearch Report) and Fuelcell Energy (FCELResearch Report) with bullish sentiments.

Gentex (GNTX)

In a report released yesterday, Christopher Van Horn from B.Riley FBR reiterated a Buy rating on Gentex. The company’s shares opened today at $21.97.

Van Horn wrote:

“CES 2019 was focused on user experience within automotive where suppliers such as GNTX highlighted the next generation of technology we will find in our vehicles. We met with GNTX management and reviewed new and next-generation products that we think continues to elevate the company into a automotive tech-focused supplier. GNTX showcased both new and next-generation automotive technologies around biometrics, connectivity, and Full Display Mirror technology while announcing new business wins with Boeing for dimmable aircraft windows. We continue to see enhancements on the Full Display Mirror (FDM) product, a key part of our growth thesis for the stock as new OEMs and additional programs with existing OEMs adopt the technology.”

According to TipRanks.com, Horn is a 4-star analyst with an average return of 3.5% and a 49.5% success rate. Horn covers the Consumer Goods sector, focusing on stocks such as Espey Mfg & Electronics, Standard Motor Products, and Methode Electronics.

Gentex has an analyst consensus of Moderate Buy, with a price target consensus of $23.40.

See today’s analyst top recommended stocks >>

Fuelcell Energy (FCEL)

B.Riley FBR analyst Carter Driscoll maintained a Buy rating on Fuelcell Energy today and set a price target of $2.50. The company’s shares opened today at $0.55, close to its 52-week low of $0.47.

Driscoll said:

“Some good, some not so good. FuelCell Energy (FCEL—Buy, $2.50 PT) delivered in-line F4Q18 revenues and EPS, finishing off a year in which the company is transitioning to retaining more fuel cell power plants to drive better LT economics than equipment/project sales. One hindrance to successfully transitioning has been access to consistent, reasonably-priced capital. We believe FCEL took a big step towards this goal with its new, $100M construction loan facility with sustainable infrastructure investment firm—Generate Capital. One of Generate’s founding partners is Jiger Shah, founder of SunEdison. Each MW generates $0.8-0.9M in annual revenue.”

According to TipRanks.com, Driscoll has 0 stars on 0-5 star ranking scale with an average return of -11.2% and a 29.8% success rate. Driscoll covers the Industrial Goods sector, focusing on stocks such as Ballard Power Systems, Amer Superconductor, and Canadian Solar Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Fuelcell Energy with a $2.43 average price target, implying a 341.8% upside from current levels. In a report released yesterday, Oppenheimer also reiterated a Buy rating on the stock with a $2 price target.

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