BMO Capital lowered the firm’s price target on Ballard Power (BLDP) to $1.20 from $1.30 and keeps an Underperform rating on the shares after its latest results highlighted another marker of a difficult year for the hydrogen fuel cell industry. The firm is encouraged by record order intake of $75.4M during Q4, particularly following two quarters of significant sequential backlog declines, but Ballard’s profitability remains constrained by its ability to scale beyond this, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BLDP:
- Ballard Power price target lowered to $1.25 from $1.75 at Roth MKM
- Ballard Power Systems Faces Challenges Despite Record Orders: Analyst Recommends Sell
- Ballard Power Faces Challenges, Achieves Milestones in 2024
- Ballard Power’s Earnings Call: Record Orders Amid Challenges
- Mixed Outlook for Ballard Power Systems Amid Record Order Intake and Financial Challenges
Questions or Comments about the article? Write to editor@tipranks.com