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Ballard Power Systems (BLDP) has an average rating of hold and mean price target of CA$5.73, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
ATB Cormark Capital Markets raised its price target on Ballard Power Systems Inc. (BLDP.TO, BLDP) to US$5.25 from US$4.30 on Thursday.Analyst MacMurray Whale maintained a Sector Perform rating on shares of the Burnaby, BC-based developer and manufacturer of proton exchange membrane fuel cell products.On June 23, Ballard announced the acquisition of GeoPura, a zero-emission hydrogen-based power solutions provider.
Ballard Power Systems (BLDP) said Tuesday it has signed a definitive agreement to acquire UK-based hydrogen-based energy company GeoPura for an upfront equity purchase price of 275 million British pounds ($363.4 million).The company said the amount will be funded with a combination of 82.5 million British pounds in cash, as well as issuing approximately 50.8 million Ballard shares to GeoPura shareholders at $5.02 per share.Ballard said it will also pay contingent consideration of up to 27.5 million British pounds if GeoPura meets certain financial milestones after the deal closes.It added that the total transaction enterprise value, including assumption of GeoPura's net debt and excluding contingent consideration, is 301.1 million British pounds.Shares of Ballard Power Systems were down nearly 6% pre-bell.
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We increase our target price from CAD4.20 to CAD6.40, applying a price-to-sales multiple of 13x our 2026 sales-per-share view (CAD0.49 using a USD/CAD exchange rate of 0.73x). We adjust our 2026 loss per share (LPS) estimate to -USD0.19 from -USD0.23 and our 2027 LPS view to -USD0.11 from -USD0.15. BLDP reported Q1 2026 revenue of USD19.4M, up 26% Y/Y, driven by strong growth in rail (up 4,472% to USD5.1M) and stationary power (up 775% to USD5.2M), though Bus revenue declined 46% to USD6.8M due to delivery timing and EU funding delays. Q1 results showed encouraging metrics, and we see potential upside from major design wins with Wrightbus and Solaris for next-generation hydrogen bus platforms and a multiyear 50 MW agreement with New Flyer. However, its declining backlog remains a concern. The 12-month order book declined 2% to USD52.8M, while the total backlog fell 5% to USD112.9M. We applaud improving gross margin trends, reflecting successful execution of its cost reduction initiatives.
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We increase our target price from $3.00 to $4.70, applying a price-to-sales multiple of 13x our 2026 sales-per-share view of $0.36. We adjust our 2026 loss per share (LPS) estimate to -$0.19 from -$0.23 and our 2027 LPS view to -$0.11 from -$0.15. BLDP reported Q1 2026 revenue of $19.4M, up 26% Y/Y, driven by strong growth in rail (up 4,472% to $5.1M) and stationary power (up 775% to $5.2M), though Bus revenue declined 46% to $6.8M due to delivery timing and EU funding delays. Q1 results showed encouraging metrics, and we see potential upside from major design wins with Wrightbus and Solaris for next-generation hydrogen bus platforms and a multiyear 50 MW agreement with New Flyer. However, its declining backlog remains a concern. The 12-month order book declined 2% to $52.8M, while the total backlog fell 5% to $112.9M. We applaud improving gross margin trends, reflecting successful execution of its cost reduction initiatives.
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:BLDP delivered mixed Q1 2026 results with revenue up 26% Y/Y to $19.4M, missing consensus by $0.83M, while GAAP EPS of -$0.04 beat estimates by $0.02. Growth was led by rail revenue surging to $5.1M from $0.1M and stationary power rising to $5.2M from $0.6M, though bus revenue declined 46% to $6.8M, reflecting ongoing market challenges. The most notable improvement was gross margins turning positive at 14% vs. -23% in Q1 2025, reflecting $6.4M improvement from cost reduction initiatives and global restructuring programs initiated in 2024-2025. Management provided 2026 guidance of $65M-$75M in operating expenses and $5M-$10M in capital expenditures, demonstrating continued cost discipline. We view the operational improvements positively, with operating cash usage improving significantly to $7.8M from $24.4M and operating expenses declining 37% Y/Y. The company maintains strong liquidity at $516.8M in cash, while backlog of $112.9M with 12-month book of $52.8M provides revenue visibility.
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:BLDP delivered mixed Q1 2026 results with revenue up 26% Y/Y to $19.4M, missing consensus by $0.83M, while GAAP EPS of -$0.04 beat estimates by $0.02. Growth was supported by rail revenue surging to $5.1M from $0.1M and stationary power rising to $5.2M from $0.6M, though bus revenue declined 46% to $6.8M, reflecting ongoing market challenges. The most notable improvement was gross margins turning positive at 14% vs. -23% in Q1 2025, reflecting $6.4M improvement from cost reduction initiatives and global restructuring programs initiated in 2024-2025. Management provided 2026 guidance of $65M-$75M in operating expenses and $5M-$10M in capital expenditures, demonstrating continued cost discipline. We view the operational improvements positively, with operating cash usage improving significantly to $7.8M from $24.4M and operating expenses declining 37% Y/Y. The company maintains strong liquidity at $516.8M in cash, while backlog of $112.9M with 12-month book of $52.8M provides revenue visibility.
Ballard Power Systems (BLDP) shares rose more than 8% in early trading on Tuesday after the company posted a narrower net loss and higher revenue for Q1.The company reported a Q1 net loss Tuesday of $0.04 per share, narrower than loss of $0.07 a year earlier.Analysts polled by FactSet expected loss of $0.06.Revenue for the quarter ended March 31 was $19.4 million, up from $15.4 million a year earlier.Analysts expected revenue of $20.2 million.The company said it is not providing full-year 2026 guidance, consistent with its past practice, but added that it expects revenue for the year to be "back-half weighted."Price: $3.60, Change: $+0.31, Percent Change: +9.27%
