BUZZ-Ballard Power Systems Inc: Rodman & Renshaw starts with "buy"

Tue Jul 14, 2015 8:13am EDT
 
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** Canadian fuel-cell products maker's U.S.-listed shares up 4.2 pct at $1.50 premarket

** Rodman & Renshaw starts coverage with "buy" rating, $2.50 PT

** "...acquisition of Protonex Technology adds new technologies, vertical opportunities and, along with the recent monetization of its intellectual property, continues a trend towards remaking the company as a more diversified clean technology company," the analysts write

** Ballard said in June it would acquire Protonex Technology Corp, which makes portable fuel cells, for $30 mln including debt

** 2 of 3 other brokerages rate the stock a "buy", 1 a "hold"; median PT $2.65

** Up to Monday's close, stock had fallen more than 27 pct this year