11:29 AM EDT, 05/08/2024 (MT Newswires) -- Truist Securities has trimmed its target on Ballard Power Systems ( BLDP ) to US$3, from US$3.50, but kept its Hold rating.

Truist has also adjusted estimates to reflect its revised outlook and Q1 results -- FY24E revenue up to US$114 million from US$109 million prior & Street US$115 million -- "as our NT outlook stays relatively stable."

FY26E revenue drops to US$231 million from US$293 million prior & Street US$254 million as Truist sees a slower ramp in truck, stationary and marine segments over the coming two years.

Price: 3.97, Change: +0.11, Percent Change: +2.85