Ballard Power price target lowered to $10 from $15 at Lake Street

Lake Street analyst Robert Brown lowered the firm’s price target on Ballard Power to $10 from $15 and keeps a Buy rating on the shares. Ballard Power’s Q2 came in below expectations and order intake was modest as the fuel cell market has moderated, the analyst tells investors in a research note. Timing remains hard to predict, but Ballard has three pending large orders and the regulatory environment is favorable, Lake Street says.