Analyst Ratings Coverage
On Tuesday June 27th, B. Riley (Analyst Rank#27) downgraded their rating to “Hold” from a “Buy” on Ballard Power’s stock, and cut their 12 month target forecast to $6.50 from $12 per share.
STA Research (Analyst Rank# 48) also reiterated their 12 month target of $8 per share, and kept their “Buy” rating on the stock.
BLDP Stock Forecast & Analysis
According to the Ballard Power Systems Inc stock forecast provided by 11 analysts, the average target price for the company’s stock over the next 12 months is estimated to be CAD 7.51. This suggests a potential increase in the stock price from its current level. Moreover, the average analyst rating for Ballard Power Systems Inc is “Buy,” indicating a positive sentiment among analysts regarding the company’s performance and potential.
Stock Target Advisor’s own evaluation of Ballard Power Systems Inc is with a slightly bearish outlook on the stock. Their analysis is based on a combination of positive and negative signals. It is noteworthy that the platform has identified three positive signals alongside five negative signals, suggesting a slightly negative bias in the analysis.
As of the last closing, Ballard Power Systems Inc’s stock price was CAD 5.60. Over the past week, the stock price has experienced a decline of -5.41%, indicating a short-term decrease in value. Similarly, over the past month, the stock price has decreased by -4.27%. Looking back over the last year, the stock price has declined by -36.65%.
The positive average target price from analysts and the “Buy” rating suggest a favorable outlook for Ballard Power Systems Inc. The company is a leader in fuel cell technology and is focused on providing clean energy solutions for various applications, including transportation and industrial sectors. Ballard Power Systems Inc has been at the forefront of developing hydrogen fuel cell technologies and has positioned itself well to capitalize on the growing demand for sustainable energy solutions.
