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Technology Stocks : Ballard Power -world leader zero-emission PEM fuel cells -- Ignore unavailable to you. Want to Upgrade?

To: Hawkeye who wrote (1985)	3/20/1998 11:18:00 AM
From: The Devil Dog	Respond to of 5827

A little info of Midland's report. Not a whole lot new is been said regarding what drives the stock, environmental legislation, strategic alliances and industry partners, cost reduction progress and continued success in meeting anticipated milestones. They reference their ability to sell to 3rd party companies eg. Daimler, Ford and$ 3.6 m to GM which clearly demonstrates their clear edge to their competitors. They reduce their recommendation from a 1-Buy to a 2-Accumulate because of the recent runup. 12 month Target is estimated to be $ 230.00 with a trading range of $ 195-$250cdn. They go on to say because of the significant coverage to the fuel cell industry and of course the focus of Ballard, this constantly enhances the momentum and the liklehood that all will succeed. Until the industry starts to become mainstream and generating revenue the values of these companies is fueled by news and its true potential. They do reference some valuations for the company of which forcast some long term valuations right out to 2013. Ballard by their valuation retains 60% of the market. Based on their projections they do not feel that Ballard is overvalued for the long term in relation to their market position,strategic alliances etc... I have seen there last 3 rec. they usually quite conservative, their targets are usually reached 6 months in advance. To tell you the truth I just think that this whole thing has taken many by surprise and its very hard to read where it will go in the short term. Way too many variables at work now! Best Regards WB