04:05 PM EDT, 07/14/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We lift our target by CAD0.70 to CAD2.60, applying a P/S multiple of 6x to our 2025 sales-per-share view of CAD0.43 (with a CAD/USD exchange rate of 1.37x). Our multiple is below BLDP's 10-year average of ~13x on continued hydrogen market weakness, but it is above our prior multiple (4.35x) on recent regulatory improvements by way of the OBBBA. Still, we do not expect much related near-term impact to the hydrogen market, and we maintain our sales and loss-per-share views for 2025 ($94M/-$0.29) and 2026 ($127M/-$0.26). The OBBBA extended the Section 45-V hydrogen production tax credit through YE 2027 and extended fuel cell investment tax credit eligibility (via Section 48-E) through 2035, which were better results than we expected for the industry and provide some much-needed regulatory clarity that should see activity pick up for a wide range of hydrogen projects, spurring backlog growth for BLDP. Still, cash burn remains a key issue and tariffs (impacting ~20% of BLPD's sales) remain a threat to margins.