The Globe and Mail reports in its Friday, June 16, edition that following Ballard Power Systems' Capital Markets Day event on Tuesday, Scotia Capital analyst Justin Strong lowered his share target to $6 (U.S.) from $6.75 (U.S.). The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $6.92 (U.S.). Mr. Strong continues to rate Ballard "sector perform." Mr. Strong says in a note: "Overall, we were left feeling more confident in the company's ability to execute on its competitive positioning, cost reduction and diversification strategies. That said, the story is still a work in progress with improved financial performance still expected in the medium-term. Net-net, our investment thesis has shifted more positive but not materially so." The Globe reported on Nov. 9 that National Bank Financial analyst Rupert Merer had downgraded Ballard Power to "sector perform" from "outperform." The shares could then be had for $7.18 (Canadian). The Globe reported on March 22 that Mr. Strong continued to rate Ballard "sector perform." The shares could then be had for $5.19 (U.S.).