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Ballard Power Systems Inc BLDP Stock Quote

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Morningstar‘s Stock Analysis BLDP

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Ballard Expands Manufacturing Capacity in China; Shares Slightly Undervalued

Brett Castelli Equity Analyst

Analyst Note

| Brett Castelli |

We lower our fair value estimate for Ballard Power to $7.50 (CAD 10) per share from $8.50 following its third-quarter results. The primary driver of our lower valuation is a decrease in our terminal multiple to reflect the long-term uncertainty regarding hydrogen market development. We see shares as slightly undervalued in light of our Very High Morningstar Uncertainty Rating.

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Key Statistics BLDP

Company Profile BLDP

Business Description

Ballard is a world leader in proton exchange membrane fuel cell, power system development, and commercialization. The company’s principal business is the design, development, manufacture, sale and service of PEM fuel cell products for a variety of applications, focusing on power product markets of heavy-duty motive (consisting of bus, truck, rail, and marine applications), material handling, and stationary power generation. Sales are concentrated in the U.S., Europe, and China.

9000 Glenlyon Parkway
Burnaby, BC, V5J 5J8, Canada
T +1 604 454-0900
Industry Specialty Industrial Machinery
Most Recent Earnings Sep 30, 2022
Fiscal Year End Dec 31, 2022
Employees 1,367