Morgan Stanley Cuts Nel ASA (OTCMKTS:NLLSF) Price Target to 13.00

Nel ASA (OTCMKTS:NLLSFGet Rating) had its price objective reduced by Morgan Stanley from 22.00 to 13.00 in a research note published on Tuesday, The Fly reports. They currently have an equal weight rating on the stock.

A number of other research analysts have also commented on the stock. Citigroup lowered shares of Nel ASA from a buy rating to a neutral rating in a research report on Thursday, May 12th. Royal Bank of Canada dropped their price objective on shares of Nel ASA from 24.00 to 23.00 and set an outperform rating for the company in a report on Thursday, May 12th. Sanford C. Bernstein started coverage on shares of Nel ASA in a research note on Wednesday, May 18th. They issued an outperform rating for the company. Finally, JPMorgan Chase & Co. lowered their price target on shares of Nel ASA from 11.40 to 11.10 and set an underweight rating for the company in a research note on Wednesday, May 18th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $15.03.

Nel ASA stock opened at $1.26 on Tuesday. Nel ASA has a 1-year low of $1.14 and a 1-year high of $2.50. The firm has a 50 day simple moving average of $1.43 and a 200 day simple moving average of $1.57.

About Nel ASA (Get Rating)

Nel ASA, a hydrogen company, delivers various solutions to produce, store, and distribute hydrogen from renewable energy in Norway, the United States, Denmark, and South Korea. The company operates in two segments, Nel Hydrogen Fueling and Nel Hydrogen Electrolyser. The Nel Hydrogen Fueling segment produces H2Station hydrogen fueling stations that provide fuel cell electric vehicles with the fueling and long range as conventional fossil fuel vehicles, including cars, buses, trucks, forklifts, and other applications.

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