Ardour Capital Upgrades Ballard Power Systems (BLDP) to Accumulate; Staying On Track
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Price: $2.70 +3.05%
Rating Summary:
6 Buy, 13 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
6 Buy, 13 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Ardour Capital upgraded Ballard Power Systems (NASDAQ: BLDP) from Hold to Accumulate, adjusting price target of $1.50.
Analyst, Brian Greenstein, said, "Due to revenue timing issues BLDP missed 1Q12 revenue estimates. Going forward BLDP is focused on managing its costs to deliver $100m in revenue and 25-30% gross margin for FY12. We are encouraged by efforts by BLDP to cut costs and shift to higher margin product mix. We expect strong revenue growth in BLDP’s Fuel Cell product segment. Presently the Company has strong net cash position and guides the same outlook for FY12. We anticipate BLDP to gain market share in upcoming quarters in high growth markets such as Brazil, India and South Africa. Our price target of $1.50 is based on our DCF valuation, which uses a 20% discount rate and an 8x EBITDA multiple."
For an analyst ratings summary and ratings history on Ballard Power Systems click here. For more ratings news on Ballard Power Systems click here.
Shares of Ballard Power Systems closed at $1.31 yesterday.
Analyst, Brian Greenstein, said, "Due to revenue timing issues BLDP missed 1Q12 revenue estimates. Going forward BLDP is focused on managing its costs to deliver $100m in revenue and 25-30% gross margin for FY12. We are encouraged by efforts by BLDP to cut costs and shift to higher margin product mix. We expect strong revenue growth in BLDP’s Fuel Cell product segment. Presently the Company has strong net cash position and guides the same outlook for FY12. We anticipate BLDP to gain market share in upcoming quarters in high growth markets such as Brazil, India and South Africa. Our price target of $1.50 is based on our DCF valuation, which uses a 20% discount rate and an 8x EBITDA multiple."
For an analyst ratings summary and ratings history on Ballard Power Systems click here. For more ratings news on Ballard Power Systems click here.
Shares of Ballard Power Systems closed at $1.31 yesterday.
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