Susquehanna raised the firm’s price target on Ballard Power (BLDP) to $4.25 from $2.60 and keeps a Neutral rating on the shares. The firm said the company reported 1Q results, with a beat on EPS but revenue coming in below estimates. The margin story continues to improve, with positive gross margins for a third straight quarter on lower product costs and restructuring savings. Ballard also secured contract wins with Wrightbus and Solaris for its FCmove-SC engine, adding to the New Flyer agreement announced previously.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BLDP:
- Unusually active option classes on open May 18th
- Ballard Power Systems Reshapes Board After Weichai Cuts Stake Below 15%
- Weichai Power sells 6.9M Ballard Power shares, board member resignations
- Unusually active option classes on open May 8th
- Ballard Power Wins Wrightbus Deal for Next-Gen Hydrogen Double-Deckers