ITM Power (LON:ITM) Stock Rating Reaffirmed as Buy by Berenberg Bank

ITM Power (LON:ITM)‘s stock had its “buy” rating reissued by analysts at Berenberg Bank in a research report issued on Monday, Digital Look reports. They currently have a GBX 200 price target on the stock. Berenberg Bank’s price target would suggest a potential upside of 108.99% from the stock’s current price.

Several other equities analysts have also commented on the company. JPMorgan Chase & Co. upped their price target on ITM Power from GBX 60 to GBX 80 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Peel Hunt restated a “hold” rating and issued a GBX 92 price objective on shares of ITM Power in a report on Thursday, October 8th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, ITM Power presently has a consensus rating of “Hold” and an average target price of GBX 4,086.40.

ITM Power Stock Up 0.6%

Shares of LON:ITM opened at GBX 95.70 on Monday. ITM Power has a 52-week low of GBX 57.90 and a 52-week high of GBX 219.80. The stock has a market cap of £660.52 million, a P/E ratio of -19.14 and a beta of 2.85. The business has a fifty day moving average of GBX 103.11 and a two-hundred day moving average of GBX 117.70. The company has a quick ratio of 7.56, a current ratio of 2.62 and a debt-to-equity ratio of 6.99.

ITM Power Company Profile

ITM Power designs and manufactures industrial-scale electrolysers for green hydrogen production. Its proprietary PEM technology, vertically integrated manufacturing, and in-house engineering capabilities enable it to supply standardised, high-performance hydrogen plants.

With a proven track record in large-scale projects, ITM Power helps leading industrial and energy companies achieve their decarbonisation goals. In addition to its equipment offering, the company provides reliable and cost-competitive hydrogen supply through its build, own and operate (BOO) model, Hydropulse.

Headquartered in the UK, ITM Power is listed on the London Stock Exchange AIM (LSE: ITM) and holds the Green Economy Mark, which recognises companies that generate over 50% of their revenues from green products and services.