Companies in the Conglomerates sector have received a lot of coverage today as analysts weigh in on Superior Industries International (SUP) and Ballard Power Systems (BLDP).
Superior Industries International (SUP)
B.Riley FBR analyst Christopher Van Horn reiterated a Buy rating on Superior Industries International on November 12 and set a price target of $20. The company’s shares opened today at $9.24, close to its 52-week low of $6.91.
Van Horn wrote:
“Superior Industries International (SUP – Buy, $20 PT) reported 3Q18 results on November 9, before market open, largely in line with the company’s October 24 preannouncement. However, consensus’ expectations did not appear to have been fully adjusted downward to account for this preannouncement, so the 3Q print came in below consensus (but largely in line with our own expectations). SUP shares closed down 25.2% on November 9, vs. the 3Q results. After SUP’s results, we underline two points: (1) We believe that SUP has a distinct upside opportunity in 2019, as recently implemented U.S.”
According to TipRanks.com, Horn is a 4-star analyst with an average return of 5.7% and a 52.2% success rate. Horn covers the Consumer Goods sector, focusing on stocks such as Standard Motor Products, Methode Electronics, and Cooper Tire Rubber.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Superior Industries International with a $14.25 average price target, which is a 54.2% upside from current levels. In a report issued on November 6, Barrington also maintained a Buy rating on the stock with a $15 price target.
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Ballard Power Systems (BLDP)
B.Riley FBR analyst Carter Driscoll maintained a Hold rating on Ballard Power Systems today and set a price target of $3. The company’s shares opened today at $3.10.
Driscoll noted:
“Earlier today, 11/13, Ballard Power (BLDP—Neutral, $3.00 PT) announced it has closed its multi-pronged collaboration with Chinese auto conglomerate Weichai Power Co., Ltd. The deal contains many moving parts described in greater detail below, but the main points are as follows: 1) Weichai made a sizable equity investment in BLDP of ~$163M, and Broad-Ocean purchased ~$20M worth of shares. 2) BLDP and Weichai will form a joint venture (JV) in the Shandong Province that pays $90M to BLDP . 3) Weichai committed to build and supply at least 2,000 fuel cell modules for commercial vehicles in China. This partnership represents a significant step in positively re-shaping China’s future as a leader in fuel cell electric vehicles (FCEVs).”
According to TipRanks.com, Driscoll has currently no stars on a ranking scale of 0-5 stars, with an average return of -8.8% and a 31.8% success rate. Driscoll covers the Industrial Goods sector, focusing on stocks such as Amer Superconductor, Canadian Solar Inc, and Fuelcell Energy.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Ballard Power Systems with a $3.80 average price target, a 22.6% upside from current levels. In a report issued on November 1, Cowen & Co. also maintained a Hold rating on the stock with a $3 price target.
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