Ballard Power price target lowered to $6 from $6.75 at Scotiabank

Scotiabank lowered the firm’s price target on Ballard Power Systems to $6 from $6.75 and keeps a Sector Perform rating on the shares following the capital markets day. The analyst left feeling more confident in the company’s ability to execute on its competitive positioning, cost reduction and diversification strategies. That said, the story is “still a work in progress,” the analyst tells investors in a research note.