Ballard Power Systems Now Covered by Analysts at Cowen and Company (BLDP)

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Equities researchers at Cowen and Company initiated coverage on shares of Ballard Power Systems (NASDAQ:BLDP) in a research report issued on Monday, AnalystRatings.Net reports. The firm set a “market perform” rating and a $3.75 price target on the stock. Cowen and Company’s target price indicates a potential upside of 2.74% from the company’s current price.

Shares of Ballard Power Systems (NASDAQ:BLDP) opened at 3.65 on Monday. Ballard Power Systems has a one year low of $0.76 and a one year high of $8.38. The stock’s 50-day moving average is $4.55 and its 200-day moving average is $2.45. The company’s market cap is $401.7 million.

Several other analysts have also recently commented on the stock. Analysts at Lake Street Capital downgraded shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, March 11th. They now have a $4.00 price target on the stock, up previously from $3.60. Separately, analysts at Byron Capital downgraded shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. Finally, analysts at Sidoti upgraded shares of Ballard Power Systems from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 26th.

Ballard Power Systems Inc (NASDAQ:BLDP) is engaged in design, development, manufacture, sale and service of fuel cell products for a variety of applications, focusing on motive power (material handling and buses) and stationary power (back-up power and distributed generation).

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