Roth Capital analyst Craig Irwin weighs in Ballard Power Systems, Inc. (NASDAQ:BLDP), as the fuel cell maker is scheduled to report second-quarter results before market on Wed., July 27, and will host a call at 11am ET. Irwin reiterates a Buy rating for the stock with a price target of $2.00.

Irwin noted, “We expect 2Q16 results essentially inline, reflecting the benefits of management’s tight cost controls initiatives. We forecast 2Q16 Rev/EPS of $18.5m/($0.05) vs. consensus estimates at $18.3m/($0.04), respectively. We model adjusted EBITDA of ($7.0m), and only modest cash consumption. Given Ballard’s status as an emerging growth company we do not view quarterly results as particularly meaningful, and expect investors will more heavily weigh both booked orders and the management team’s commentary around pipeline progress.”

The analyst concluded, “We see longer-term growth visibility as firming nicely following Ballard’s recent JV announcement with Synergy which supports over $150m in MEA revenue through 2021. We believe there are additional large-size contracts Ballard could capture this year, and will look for an update on pipeline progress on the earnings call. We see Ballard as a leader in the fuel cell industry, with one of the most diversified product portfolios, and well positioned to execute on a broadening slate of projects.”

According to TipRanks, Craig Irwin is ranked #3,752 of 4,083 analysts. He maintains a success rate of 37% and realizes an average loss of 5.2%. When rating BLDP, Irwin maintains an 83% success rate with an average profit of 23.6%.

On TipRanks, 50% of analysts issue a Buy rating for BLDP and the other 50% maintain a Hold rating for the stock. The consensus target price for BLDP is $1.75, marking a 4.5% downside from current prices.