Ballard Power Systems Inc
BLDP: XTSE (CAN)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
CAD 2.00 | Nqt | Nyfsywx |
Despite Near-Term Uneven Results, Ballard Should Benefit From Proposed U.S. Hydrogen Incentives
We raise our fair value estimate for Ballard Power to $8.50 (CAD 11) per share from $7 following its second-quarter results and after incorporating the proposed Inflation Reduction Act into our valuation. The driver of our increased valuation is assumed higher long-term revenue growth thanks to hydrogen incentives in the Inflation Reduction Act. We view shares as fairly valued.