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Benzinga

B. Riley Securities Maintains Buy Rating for Ballard Power Systems: Here's What You Need To Know

B. Riley Securities has decided to maintain its Buy rating of Ballard Power Systems (NASDAQ:BLDP) and lower its price target from $15.00 to $12.00.

Shares of Ballard Power Systems are trading down 5.71% over the last 24 hours, at $6.53 per share.

A move to $12.00 would account for a 83.91% increase from the current share price.

About Ballard Power Systems

Ballard Power Systems Inc is a clean energy growth company. The company is engaged in proton exchange membrane fuel cell development and commercialization. The company's main business is designing, development, manufacturing, sale, and service fuel cell products for a variety of applications, focusing on motive power (material handling and buses) and stationary power (back-up power, supplemental power, and distributed generation). A fuel cell is an environmentally clean electrochemical device that combines hydrogen fuel with oxygen (from the air) to produce electricity. Geographically, it derives a majority of revenue from China and also has a presence in Germany; Belgium; Japan; Denmark; the UK and other countries.

About Analyst Ratings

Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.

Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.