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Technology Stocks : Ballard Power -world leader zero-emission PEM fuel cells
BLDP 3.500-1.4%Nov 7 9:30 AM EST
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To: Gary105 who wrote (1809)3/9/1998 12:44:00 PM
From: HarveyO  Read Replies (1) of 5827
 
Post says shares continue ascent despite analyst downgrade

Ballard Power Systems Inc BLD
Shares issued 23,083,665 Mar 6 close $136.90
Mon 9 Mar 98 In the News
The Financial Post reports in its Saturday, March 7, edition that Ballard
Power Systems shares continued to gain last week, despite a downgrade to
"neutral" from "outperform" by Morgan Stanley Dean Witter Discover analyst
Robert Chewning. The Post's Ian Karleff in his Market Action column reports
that Mr Chewning believes the shares are fairly valued at $135 and his
recommendation on the new-driven stock knocked $7.60 off its value. In
Ballard's favour was the announcement that Ford Motor Co and Mobil will
jointly develop fuel and engine technology in support of a continuing
project by Ford, Ballard and Daimler Benz. Midland Walwyn Capital analyst
Christine Farkas says, the news is positive because it brings a fuel
partner into the alliance with expertise on fuel processing. Ms Farkas
likes the way the industry is "shaping up" and although she expects some
future share price volatility, she is maintaining her "buy" recommendation
with a $145 12 month stock price target.
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