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  "docSlug": "6dfd595fdfac",
  "documentTitle": "Ballard Power Systems (BLDP)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2018-01-25 00:00:00",
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  "pageNumber": 55,
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  "notes": "The slide uses a table to contrast analyst price targets with the current stock price to imply an overly optimistic consensus.",
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      "text": "Ballard’s sells-side supporters, all based in the US and likely challenged in staying on top of a quickly evolving and complex Chinese market dynamics, see nearly 47% upside to $5.60 per share.",
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      "text": "Price Target: $5.60",
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      "text": "Ballard's sells-side supporters, all based in the US and likely challenged in staying on top of a quickly evolving and complex Chinese market dynamics, see nearly 47% upside to $5.60 per share. We find it odd that Ballard is not endorsed by any Canadian brokers given its headquarters in British Columbia and dual-listing on the TSE.",
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      "kind": "quote",
      "text": "Rodman & Renshaw has historically been associated with fraudulent Chinese companies. Although Ballard is Canadian based, its entry into China and promotion of the opportunity merits caution — Footnote 1",
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      "text": "1) Rodman & Renshaw has historically been associated with fraudulent Chinese companies. Although Ballard is Canadian based, its entry into China and promotion of the opportunity merits caution",
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      "text": "Broker and Price Target table showing H.C. Wainwright, FBR/B. Riley, Lake Street, Cowen, Roth Capital, and the calculated average.",
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      "kind": "title",
      "text": "Sell-Side Analysts Naturally Bullish",
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