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Ballard Power Systems Inc
Symbol BLDP
Shares Issued 244,289,430
Close 2020-09-30 C$ 20.12
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Globe says Lake's Brown likes Ballard Power's outlook

2020-10-01 09:09 ET - In the News

The Globe and Mail reports in its Thursday, Oct. 1, edition that Lake Street Capital analyst Robert Brown says Ballard Power Systems' analyst day increased his confidence that a "meaningful future market penetration rates are achievable," citing its "leading technology, key strategic relationships with market leaders, and a unique market position." The Globe's David Leeder writes in the Eye On Equities column that Mr. Brown reiterated his "buy" call and $20 share target (all figures U.S.). Analysts on average target the shares at $20.47. Mr. Brown says in a note: "The company highlighted the growing demand in several markets including the European and U.S. transit bus market, the China truck market, and the marine and rail markets. Long-term policy supports in these markets have increased substantially over the past 12-18 months and commercialization efforts are ramping nicely. Ballard has a well-developed strategy for each of these markets, including JV's and partnerships as well as direct relationships, and it should see growth accelerate. The company laid out a vision of a long-term opportunity of becoming a $5-billion-plus revenue business generating 20-per-cent EBITDA margins over the next 10 years."

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