BMO cuts target for Ballard Power Systems stock to USD 1.50

Published on 10/27/2026 at 19:19 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Ballard will review third-quarter results on November 16, 2026. Ballard Power Systems stock costs EUR 1.39 on October 27, 2026 in after-hours trading.

BMO target cut leads the picture

BMO Capital lowered its Ballard target from USD 2.10 to USD 1.50 on October 26, 2026.
Ballard targets gross margins above 20.00 percent in 2027 and above 25.00 percent by 2028.
Ballard Power Systems stock costs EUR 1.39 at Lang & Schwarz on October 27, 2026 at 7:13 p.m. CEST.
Ballard will review third-quarter 2026 results on November 16, 2026.

BLDP, CA0585861085, Illustration mit AI erstellt.

Ballard Power Systems (ISIN CA0585861085) is facing a lower analyst valuation after BMO Capital cut its price target from USD 2.10 to USD 1.50 on October 26, 2026, while keeping an Underperform rating, as Markets Insider reported. Ballard Power Systems was trading at EUR 1.39 at Lang & Schwarz on October 27, 2026 at 7:13 p.m. CEST in after-hours trading.

Target cut meets a new business model

BMO analyst Ameet Thakkar linked the revised view to Ballard Forum 2026, where the company outlined Energy-as-a-Service alongside equipment sales and services. The analyst highlighted planned Hydrogen Power Unit fleet capital expenditures of USD 80 million to USD 120 million through 2027 and 2028, adding financing and utilization risks.

Ballard's latest company update also set a demanding profitability path. In its October 22, 2026 review, Ballard said it targets adjusted EBITDA profitability by the end of 2027 and throughout full-year 2028. The company also targets corporate revenue growth of 30.00 percent annually over the next two fiscal years, according to Ballard.

Loss-making profile keeps valuation in view

Ballard reported revenue of USD 20.60 million for the second quarter of 2026, while operating loss reached USD 16.84 million and net loss was USD 20.28 million. Operating cash flow was negative USD 11.39 million in the same quarter. These figures put the forum's margin targets beside a business that still carries substantial execution demands.

Ballard's share price on Nasdaq was USD 1.55 at 2:18 p.m. ET on October 27, 2026. The 52-week range was USD 1.43 to USD 6.57, and market capitalization was USD 465.3 million. The company is scheduled to discuss third-quarter 2026 operating results on November 16, 2026, at 10:00 a.m. ET, according to Ballard.

What the next report must show

The next report will test whether revenue growth and margin expansion are beginning to offset cash consumption. For investors, the key figures are the quarterly revenue base, operating loss and progress toward the adjusted EBITDA target, rather than the headline target alone.

Ballard stock stays in a wide range

Ballard Power Systems stock was trading at EUR 1.39 at Lang & Schwarz on October 27, 2026 at 7:13 p.m. CEST in after-hours trading. The further course of trading is shown by the continuously updated real-time quote of Ballard Power Systems stock.