CIBC Maintains Neutral on Ballard Power Systems, Lowers Price Target to $3.5
Portfolio Pulse from Benzinga Newsdesk
CIBC analyst Hamir Patel has maintained a Neutral rating on Ballard Power Systems (NASDAQ:BLDP) and reduced the price target from $3.75 to $3.5.

May 08, 2024 | 5:27 pm
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CIBC analyst Hamir Patel maintains a Neutral rating on Ballard Power Systems and lowers the price target from $3.75 to $3.5.
The reduction in price target by CIBC, a significant financial institution, could lead to a negative short-term sentiment among investors, potentially causing a decrease in BLDP's stock price. The maintenance of a Neutral rating indicates that the analyst sees limited upside or downside potential from the current price level, but the lowering of the price target suggests a slight bearish outlook on the stock's valuation.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100