Ballard Power Systems Inc
BLDP: XTSE (CAN)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
CAD 5.00 | Pmlg | Rsnrcbvb |
Ballard Earnings: Reducing Pace of Investment in Response to Delayed Market Adoption
We are lowering our fair value estimates for no-moat Ballard Power Systems to $2/CAD 3 from $3/CAD 4 following second-quarter results. The driver of our reduced valuation is a lower long-term revenue and margin forecast. We view the shares as fairly valued.