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Technology Stocks : Ballard Power -world leader zero-emission PEM fuel cells
BLDP 3.560+1.7%3:59 PM EST

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To: W. Randy Gast who wrote (5335)12/11/2000 7:15:07 PM
From: Kayaker  Read Replies (1) of 5827
 
NEW YORK, Dec 11 (Reuters) - Credit Suisse First Boston on Monday said it had cut its rating on Ballard Power Systems Inc. (Toronto:BLD.TO - news) (NasdaqNM:BLDP - news) to buy from strong buy based on proposed changes to auto-emission laws in California.

CSFB said the California Air Resources Board is to meet Jan. 25 to consider a proposal to reduce levels of zero-emission vehicles auto manufacturers must put into service. Ballard is a leading producer of zero-emission fuel cells for use in transportation.

CSFB said it cut its rating on Ballard due to the uncertainty surrounding the board meeting.

Ballard shares closed on Friday at C$131 on the Toronto Stock Exchange. The stock has a 52-week range of $38 to $210.80.

On Nasdaq its shares closed at US$86 on Friday, amid a 12-month range of $25-1/4 to $144-15/16.

biz.yahoo.com
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