TD Cowen analyst Jeff Osborne upgraded Ballard Power (BLDP) to Hold from Sell with a $2.50 price target The firm still expects 2026 to remain a challenging year for hydrogen fuel cells. However, Ballard has removed near-term negative catalysts through its restructuring, spending cuts, strategic exits from China and Texas, and a focus on the European and U.S. transit markets, the analyst tells investors in a research note. As such, TD sees a more balanced risk/reward at current share levels.
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