TD Cowen upgrades US-listed shares of Ballard Power Systems to 'hold'

U.S.-listed shares of fuel-cell maker Ballard Power Systems BLDP.TO, BLDP.O rise 1.3% to $2.76

Brokerage TD Cowen upgrades Ballard to "hold" from "sell" for its Nasdaq-listed shares

Says BLDP has mitigated near-term risks through restructuring, even as 2026 remains challenging for the hydrogen fuel cell segment

Says BLDP's exits from China and Texas, alongside its focus on Europe and North America transit markets, improves outlook; execution remains key

In 2025, BLDP's U.S.-listed stock rose 53%