H.C. Wainwright Thinks Ballard Power Systems’ Stock is Going to Recover

By Jason Carr

In a report released today, Amit Dayal from H.C. Wainwright maintained a Buy rating on Ballard Power Systems (BLDPResearch Report), with a price target of $4.50. The company’s shares opened today at $2.80, close to its 52-week low of $2.57.

Dayal observed:

“The company continues to make progress in its heavy-duty motive market in North America. It has been successful in making inroads into other vertical markets as well, including rail and marine. We expect the company’s revenues to grow at a seven-year CAGR of approximately 31.4% from $90.6 M in 2018 to $611.8M in 2025. We value the company’s shares using a discounted cash flow (DCF) model and a discount rate of 10.8% derived from the weighted average cost of capital (WACC) for the company.”

According to TipRanks.com, Dayal ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -14.0% and a 27.9% success rate. Dayal covers the Industrial Goods sector, focusing on stocks such as Capstone Turbine Corp, Orion Energy Systems, and UQM Technologies Inc.

Currently, the analyst consensus on Ballard Power Systems is a Moderate Buy with an average price target of $3.38.

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The company has a one-year high of $4.84 and a one-year low of $2.57. Currently, Ballard Power Systems has an average volume of 998.5K.

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Ballard Power Systems, Inc. engages in the design, development, manufacture, sale, and service of fuel cell products. It focuses on power product markets of heavy duty motive, portable power, material handling, and backup power. The company was founded on November 12, 2008 and is headquartered in Burnaby, Canada.