TD Cowen upgrades Ballard Power Systems to 'hold'

Ballard Power Systems

09/01/2026 14:24

** TD Cowen upgrades fuel-cell maker Ballard Power Systems BLDP.TO to "hold" from "sell"

** Says BLDP has mitigated near-term risks through restructuring, even as 2026 remains challenging for hydrogen fuel cell segment

** Adds BLDP's exits from China and Texas, alongside its focus on Europe and North America transit markets, improves outlook; execution remains key

** 1 of 15 brokerages rate stock "buy", 11 "hold" and 3 "sell"; median PT is $3 - data compiled by LSEG

** In 2025, BLDP rose 56%

(Reporting by Varun Sahay in Bengaluru)

((Varun.sahay@thomsonreuters.com))