Ballard Power Systems Inc

BLDP: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$3.00	Hrz	Zlptblmg

Initiating Coverage of Ballard Power With No Moat; $7 FVE

Brett Castelli

May 18, 2022

Business Strategy and Outlook

Ballard has one of the longest histories in the fuel cell industry, with a particular focus on transportation applications.

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