Roth MKM lowered the firm’s price target on Ballard Power (BLDP) to $1.25 from $1.75 and keeps a Neutral rating on the shares. The company posted a Q4 earnings miss vs. consensus, and while the $50M higher backlog growth from Q3 was impressive, Ballard faces execution risks as 40% of orders from North America where available subsidies are uncertain and the $39M Q3 de-booking leaves unanswered questions, the analyst tells investors in a research note.
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Read More on BLDP:
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