B.Riley FBR Remains a Hold on Ballard Power Systems (BLDP)


In a report released yesterday, Carter Driscoll from B.Riley FBR reiterated a Hold rating on Ballard Power Systems (BLDP), with a price target of $3. The company’s shares opened today at $3.03.

Driscoll observed:

“This morning (March 7), Ballard Power (BLDP—Neutral, $3 PT) delivered 4Q18 results that beat on the top line but missed on the bottom line. This ended a disappointing year for the company and we see 2019 as a transition year. 2017 was such a strong year as BLDP set up its JV with Synergy Hydrogen and large one-time and high-margin technology transfer revenues did not repeat in 2018. The volume ramp in membrane electrode assembly (MEA) sales to the China- based Synergy JV did not materialize at the rate expected. The company did announce a major tie-up in 3Q18 from one of the top Chinese auto conglomerates in Weichai Power, targeting heavy-duty (HD) and medium-duty (MD) fuel-cell powered electric vehicles (FCEV).”

According to TipRanks.com, Driscoll has currently no stars on a ranking scale of 0-5 stars, with an average return of -7.5% and a 33.8% success rate. Driscoll covers the Industrial Goods sector, focusing on stocks such as Amer Superconductor, Ceco Environmental, and Fuelcell Energy.

Currently, the analyst consensus on Ballard Power Systems is a Moderate Buy with an average price target of $3.75.

See today’s analyst top recommended stocks >>

The company has a one-year high of $4.62 and a one-year low of $2.25. Currently, Ballard Power Systems has an average volume of 622.2K.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Ballard Power Systems, Inc. engages in the design, development, manufacture, sale, and service of fuel cell products. It focuses on power product markets of heavy duty motive, portable power, material handling, and backup power. The company was founded on November 12, 2008 and is headquartered in Burnaby, Canada.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts