Roth Capital Affirms Ballard Power (BLDP) at 'Buy'; Says FY17 Fuel Cell Outlook is 'Robust'
- Wall Street surges to new highs; transports set record
- lululemon athletica (LULU) Tops Q3 EPS by 4c; Adj.-Comps Outpaced Views
- Abbott (ABT) Files Complaint to Terminate Alere (ALR) Acquisition
- Costco Wholesale (COST) Tops Q1 EPS by 5c; Comps Up 1%, 2% Ex-Gas
- After-Hours Stock Movers 12/07: (VYGR) (LULU) (HRB( Higher; (OHRP) (VRNT) (CMTL) Lower (more...)
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
Roth Capital affirms Ballard Power Systems (Nasdaq: BLDP) at Buy with a price target of $3 after the firm attended the California Hydrogen Business Council's (CHBC) Fuel Cell Summit in Sacramento, Cali, recently.
Analyst Craig Irwin noted that Ballard Power offered a robust forecast on new fuel cell shipments. The analyst noted the following today:
- Ballard shared expectations for ~300 fuel cell bus shipments over the next 18 months, on top of 300 fuel cell buses fielded globally to date. We understand a large portion of this aggressive ramp is expected to come from demand in China, with healthy demand for deployments in the U.S, Canada, Japan, Europe, and South Korea.
- Recent visitors to Synergy shared details about their fuel cell production line, indicating full production is already achieved. Management from a large non-competitive company indicated they visited Synergy in the past month, sharing that they were impressed with the 18-month timeline for Synergy to have a fully developed 85-kWh fuel cell engine with production already online. Participants indicated the total cost of a Chinese fuel cell bus is around ~US$300k, vs. ~$1m for a U.S delivered bus, where this is not entirely comparable given NHTSA's more robust road worthiness requirements than in China.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- MoffettNathanson Downgrades AMC Networks (AMCX) to Sell
- Newell Brands (NWL): Cutting PT - Jefferies
- Wedbush Raises Price Target on Francesca's (FRAN) Following 3Q Report
Create E-mail Alert Related CategoriesAnalyst Comments
Related EntitiesRoth Capital
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!