Why Did Ballard Power Systems Stock Just Pop?
Ballard Power Systems (NASDAQ: BLDP) stock soared 25.1% through 12:35 p.m. ET Friday after analysts at investment bank H.C. Wainwright raised their price target on Ballard rival Plug Power (NASDAQ: PLUG).
Wainwright more than doubled its price target on Plug stock this morning, from $3 to $7 a share. It said not a word about Ballard. But because Plug and Ballard both operate in the hydrogen fuel cell sector, investors may be thinking that what's good news for one must also be good news for the other.
Image source: Getty Images.
Source Fool.com
