Wells Fargo says Ballard Power’s (BLDP) Q4 revenue came in light while its gross margin beat and EBITDA was in line. The company’s order backlog was up 41% sequentially and its 12-month order book was up 70% from Q3, the analyst tells investors in a research note. The firm expects a positive stock reaction to the earnings print. It has an Underweight rating on the name with a $1 price target Ballard in early trading is up 11% to $1.37.
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