Susquehanna analyst Biju Perincheril lowered the firm’s price target on Ballard Power to $5.50 from $6 and keeps a Neutral rating on the shares. The analyst said Q4 results missed expectations and sales fro Chnia remained subdued. Given the weakness in China, the company deferred some capex spend to 2024. Additionally, management does not expect to see meaningful margin expansion until volumes ramp in 2024.
Published first on TheFly
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