Ballard Power Systems (BLDP) Gets a Buy Rating from H.C. Wainwright


H.C. Wainwright analyst Amit Dayal maintained a Buy rating on Ballard Power Systems (NASDAQ: BLDP) today and set a price target of $6. The company’s shares opened today at $4.

Dayal noted:

“We had noted in our note titled “Weichai Buy”, dated August 30, 2018, that the investment positioned BLDP to accelerate the commercialization of its next generation, liquid-cooled fuel cell technology, especially in light of Weichai’s strength in the heavy-duty bus and commercial truck markets in China. Today’s announcement validates the strength of BLDP’s technology development process. According to the press release, the FCgen-LCS is expected to offer BLDP’s customers significantly reduced capital and operating costs, higher durability, improved power density, better freeze start capability, enhanced efficiency, packaging flexibility, and high performance in a broad range of climatic conditions and duty cycles.”

According to TipRanks.com, Dayal ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -6.2% and a 39.3% success rate. Dayal covers the Consumer Goods sector, focusing on stocks such as Superconductor Technologies Inc, Pointer Telocation Ltd, and Pacific Ethanol.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Ballard Power Systems with a $5.67 average price target, implying a 41.8% upside from current levels. In a report issued on September 4, B.Riley FBR also assigned a Buy rating to the stock with a $5 price target.

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Based on Ballard Power Systems’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $4.32 million. In comparison, last year the company had a GAAP net loss of $1.2 million.

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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.

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