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Ballard Power Systems (NASDAQ: BLDP) has faced a series of downgrades from various analysts, with Citigroup lowering its price target from $2.00 to $1.50, indicating a neutral rating. The stock is currently trading at $1.32, down 2.6%, with an average target price of $2.13 and a mixed rating from analysts, including six sell ratings and one buy rating. Institutional investors hold 28.02% of the company's shares, reflecting ongoing interest despite the stock's challenges.
Winnipeg's reliance on New Flyer, North America's largest bus manufacturer, is jeopardizing the company's future as it shifts focus to hydrogen fuel cell buses, which are more expensive and less reliable than battery-electric alternatives. This strategic misstep, compounded by conflicts of interest within the Canadian Urban Transit Research and Innovation Consortium, is leading to significant financial and operational challenges for both New Flyer and Winnipeg's transit system. As a result, the city risks becoming a captive market for a failing technology, potentially costing taxpayers billions.
CUTRIC's recent study on hydrogen buses has raised concerns over its reliability and potential conflicts of interest, as it appears to favor hydrogen solutions despite their high costs and operational inefficiencies. The study, funded by ZETF, may mislead transit agencies like Translink into adopting costly hydrogen options, influenced by board members with vested interests in hydrogen technology. A governance review is recommended to ensure transparency and to critically assess the viability of hydrogen bus fleets based on global experiences.
Ballard Power Systems Inc.
Companies
| Symbol | BLDP |
| Name | Ballard Power Systems Inc. |
| Currency | USD |
| Sector | Industrials |
| IndustryGroup | Capital Goods |
| Industry | Machinery |
| Market | NASDAQ Global Select |
| Country | Canada |
| State | BC |
| City | Burnaby |
| Zipcode | V5J 5J8 |
| Website | http://www.ballard.com |
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
analysts downgrade ballard power systems amid declining stock price forecasts
19:09 19.03.2025
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17:55 21.11.2024
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