On June 29, FuelCell Energy surged 17% in regular trading, reaching $29.1 per share with turnover of approximately $91.71 million. The rally was driven by a series of bullish analyst actions and fundamental catalysts.

B. Riley upgraded FuelCell Energy to Buy from Neutral and raised its price target to $32 from $13. This followed Jefferies upgrading the stock to Buy from Hold on the prior Friday, which triggered an 18%-plus rally on volume of 17.1 million shares, well above the daily average of 9.2 million. UBS also raised its price target to $22 from $7.25. Additionally, the company secured financing to support its U.S. clean energy technology export expansion, with initial funds expected to be disbursed on June 30.

These upgrades come on the heels of FuelCell's strategic agreement with Fit Energy USA LP to supply up to 380 megawatts of clean power for data centers. The deal includes an immediate deposit for an initial 30MW deployment expected later this year, with warrants tied to future milestones up to 380MW.

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