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Ballard Power Systems Inc
Symbol BLDP
Shares Issued 297,082,350
Close 2021-03-12 C$ 32.87
Recent Sedar Documents

Globe says Juvekar maintains Ballard Power at "buy"

2021-03-15 08:20 ET - In the News

The Globe and Mail reports in its Saturday, March 13, edition that Citi analyst P.J. Juvekar expects slower near-term growth for Ballard Power Systems after the release of fourth quarter release that were "nothing to write home about." The Globe's David Leeder writes in the Eye On Equities column that Mr. Juvekar continues to rate the shares "buy," while trimming his share target to $33 (U.S.) from $42 (U.S.). Analysts on average target the shares at $33.22 (U.S.). Mr. Juvekar says in a note: "We caution that the real growth is back-end loaded by mid-decade. In our view, the hydrogen economy is still attractive and government policies are supportive. China is expected to announce demonstration city clusters and FCEV subsidies in short order. Bus orders continue to grow, particularly in Europe, while a 240kW heavy-duty (HD) truck prototype engine with MAHLE is expected by YE21 for customer testing. ... Our stock price target is lowered due to higher interest rates, lower terminal growth rate, and slower order intake due to COVID-19. We continue to believe that the hydrogen economy is here to stay and Ballard is well-positioned in the emerging fuel cell applications for bus, truck, rail and marine."

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