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Why Ballard Power Systems (BLDP) Has A Bright Short-Term Future?

Zacks Equity Research

One company that should be on your radar is Ballard Power Systems Inc. (BLDP). The stock of this Canada based company, which develops and markets proton exchange membrane (PEM) fuel cells, has seen its Zacks Rank surge over the past four weeks, moving from Hold territory to its current position as a Buy.

A key reason for this move has been the positive trend in the earnings estimate revisions picture. For BLDP’s full year estimate, we have seen 2 estimates go higher in the past 30 days, compared to no estimate moving lower. This trend has helped the consensus estimate to trend higher, going from earnings loss of 12 cents a share a month ago to its current level at loss of 9 cents.

This positive shift in estimates has made some investors take notice and buy the stock. In fact, BLDP has seen some pretty solid trading lately, as the company has moved higher by 156.31% in the past month.

If Ballard can keep up this great momentum on the earnings estimate front and continue to impress analysts, we could see more gains ahead for this company, suggesting that you might want to put BLDP on your watch list for the future.

Other top-ranked stocks worth considering in this space include Nidec Corporation (NJ), Rogers Corporation (ROG) and TE Connectivity Ltd. (TEL). All these stocks carry a Zacks Rank #2(Buy).

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BALLARD POWER SYSTEMS INC (BLDP): Free Stock Analysis Report

NIDEC CORP ADR (NJ): Free Stock Analysis Report

ROGERS CORP (ROG): Free Stock Analysis Report

TE CONNECTIVITY LTD (TEL): Free Stock Analysis Report

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