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