Ballard Power downgraded to Hold from Buy at Lake Street Lake Street downgraded Ballard Power citing valuation but raised its price target for shares to $4.00 from $3.60. The firm sees downside risk if Ballard's new programs do not develop and only limited upside potential from current share levels if they do.
Ballard Power signs multi-year fuel cell supply agreement with Plug Power Ballard Power Systems (BLDP) announced that it has signed a long term supply agreement with Plug Power (PLUG) to provide fuel cell stacks for use in GenDrive systems deployed in forklift trucks. The new supply agreement replaces an existing agreement and creates the opportunity for Ballard to remain in a leading supply position for fuel cell stacks in Plug Power's GenDrive systems. The new agreement is effective immediately and runs to the end of 2017, with the provision for two 1-year extensions.