According to The Fly, in a new note to investors today, an analyst has provided a rating update for Ballard Power Systems Inc (BLDP). Analyst Amit Dayal from H.C. Wainwright reiterated a Buy rating
Dayal observed:
“The company continues to make progress in its heavy-duty motive market in North America. It has been successful in making inroads into other vertical markets as well, including rail and marine. We expect the company’s revenues to grow at a seven-year CAGR of approximately 31.4% from C$90.6 M in 2018 to C$611.8M in 2025. We value the company’s shares using a discounted cash flow (DCF) model and a discount rate of 10.8% derived from the weighted average cost of capital (WACC) for the company.”
According to TipRanks.com, Dayal is ranked 0 out of 5 stars with an average return of -14.0% and a 27.9% success rate. Dayal covers the Industrial Goods sector, focusing on stocks such as Ballard Power Systems, Capstone Turbine Corp, and Orion Energy Systems.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Ballard Power Systems Inc.
Based on Ballard Power Systems Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of C$7.87 million. In comparison, last year the company had a GAAP net loss of C$1.29 million.
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 Thursday at C$3.74, close to its 52-week low of C$3.44.
