Ballard Power Systems (TSE:BLDP) Price Target Cut to C$11.00 by Analysts at Eight Capital

Ballard Power Systems (TSE:BLDPGet Rating) had its target price dropped by stock analysts at Eight Capital from C$12.00 to C$11.00 in a report issued on Wednesday, MarketBeat Ratings reports. The brokerage presently has an “outperform” rating on the stock. Eight Capital’s target price points to a potential upside of 6.59% from the company’s current price.

Other analysts have also issued reports about the stock. Wells Fargo & Company restated a “hold” rating and issued a C$9.00 price target on shares of Ballard Power Systems in a research report on Thursday, May 12th. Truist Financial started coverage on shares of Ballard Power Systems in a report on Monday, May 2nd. They set a “hold” rating and a C$13.00 price target for the company. B. Riley dropped their target price on shares of Ballard Power Systems to C$12.00 and set a “buy” rating for the company in a research note on Tuesday, May 10th. Finally, Piper Sandler began coverage on shares of Ballard Power Systems in a research note on Wednesday, June 8th. They issued a “sell” rating and a C$5.00 target price for the company. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of C$11.95.

Ballard Power Systems Stock Up 13.8 %

Ballard Power Systems stock opened at C$10.32 on Wednesday. The company has a market capitalization of C$3.08 billion and a P/E ratio of -17.29. The firm’s fifty day simple moving average is C$8.83 and its 200-day simple moving average is C$11.30. The company has a current ratio of 15.36, a quick ratio of 14.51 and a debt-to-equity ratio of 1.34. Ballard Power Systems has a 1-year low of C$7.46 and a 1-year high of C$24.48.

Ballard Power Systems Company Profile

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Ballard Power Systems Inc engages in the design, development, manufacture, sale, and service of proton exchange membrane (PEM) fuel cell products. The company offers its products for power product markets, consisting of heavy-duty motives, such as bus, truck, rail, and marine applications; material handling; and backup power.

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