Why Ballard Power Systems (BLDP) Stock Is Gaining On Wednesday

NEW YORK (TheStreet) -- Shares of Ballard Power Systems Inc. (BLDP) are higher by 11.04% to $3.62 today as the energy sector gets a boost from the positive analysts notes FuelCell Energy Inc. (FCEL) and First Solar Inc. (FSLR) received from analysts at Stifel Financial Corp. (SF).

The firm reinitiated coverage on the stocks with "buy" ratings, theflyonthewall.com reports.

In regards to FuelCell, Stifel said the company's fuel cell power plant solution is more attractive following a decline in the cost of electricity generated by the product.

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Speaking about First Solar, Stifel said the company is in a position to exploit the growth of solar energy around the globe. The analyst is expecting the company to benefit from its U.S. solar energy projects.

FuelCell is up 7.62% to $2.40 and First Solar is up 1.56% to $62.22 today.

Another energy company seeing a boost from the positive analyst note is Plug Power (PLUG) which is up 5.75% to $4.23.

TheStreet Ratings team rates BALLARD POWER SYSTEMS INC as a Sell with a ratings score of D-. TheStreet Ratings Team has this to say about their recommendation:

"We rate BALLARD POWER SYSTEMS INC (BLDP) a SELL. This is driven by a few notable weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. Among the areas we feel are negative, one of the most important has been poor profit margins."

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