FCEL Stock Outlook for 2026: Data Centers, Korea, and Risks

Key Takeaways FCEL targets 2026 growth through Korea module execution and AI data center pipeline conversions.FuelCell Energy's backlog fell 11% to $1.2B, with product backlog nearly halving year over year.FCEL's low production scale and timing delays continue to pressure margins and profitability outlook.FuelCell Energy (FCEL) is trying to turn a lumpy project business into a more repeatable growth engine. Management is leaning into two near-term levers: executing its South Korea module schedule and conver ...