Wells Fargo Maintains Underweight on Ballard Power Systems, Lowers Price Target to $3.5
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst Praneeth Satish has maintained an Underweight rating on Ballard Power Systems (NASDAQ:BLDP) and reduced the price target from $5 to $3.5.

November 13, 2023 | 2:45 pm
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Ballard Power Systems' stock may face downward pressure after Wells Fargo maintained an Underweight rating and lowered the price target to $3.5.
The reduction in price target by a major financial institution like Wells Fargo, accompanied by an Underweight rating, suggests a bearish outlook on the stock, which could lead to short-term selling pressure as investors adjust their expectations.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100