H.C. Wainwright Sticks to Its Buy Rating for Ballard Power Systems Inc (BLDP)


According to The Fly, ballard Power Systems Inc (BLDP), the Conglomerates sector company was revisited today, and remains undervalued for at least one analyst on the street. The company received a Buy rating from H.C. Wainwright’s analyst Amit Dayal.

Dayal observed:

“We view the closing of this transaction as an indication of the Chinese market’s seriousness in adopting fuel cells as a contributing solution to the country’s pollution problems. We believe Ballard, with such a prominent domestic partner, is now in a much stronger position to navigate the evolving regulatory and subsidy environment. The deal with Weichai calls for at least 2,000 fuel cell modules to be built and supplied by 2021. We believe delivery against this should begin by 2H19. With this deal closed an important milestone for an important market has been achieved in a timely manner, and the company’s balance sheet has been significantly strengthened. We believe long-term growth drivers for Ballard remain intact.”

According to TipRanks.com, Dayal ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -9.1% and a 32.2% success rate. Dayal covers the Industrial Goods sector, focusing on stocks such as Ballard Power Systems, Capstone Turbine Corp, and Orion Energy Systems.

Ballard Power Systems Inc has an analyst consensus of Moderate Buy.

The company has a one-year high of C$6.74 and a one-year low of C$3.44. Currently, Ballard Power Systems Inc has an average volume of 314.4K.

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.

The company’s shares closed on Tuesday at C$4.05.

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