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

ITM Power (LON:ITM)‘s stock had its “buy” rating restated by stock analysts at Berenberg Bank in a research report issued on Monday, Digital Look reports. They presently have a GBX 200 price target on the stock. Berenberg Bank’s target price points to a potential upside of 111.19% from the company’s current price.

Other equities research analysts have also issued research reports about the company. JPMorgan Chase & Co. raised their target price on ITM Power from GBX 60 to GBX 80 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Peel Hunt reaffirmed a “hold” rating and issued a GBX 92 price target on shares of ITM Power in a report on Thursday, October 8th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of GBX 4,086.40.

ITM Power Trading Up 0.2%

LON:ITM opened at GBX 94.70 on Monday. The stock has a 50-day simple moving average of GBX 103.30 and a 200-day simple moving average of GBX 117.47. The stock has a market cap of £653.62 million, a P/E ratio of -18.94 and a beta of 2.85. ITM Power has a 1 year low of GBX 57.90 and a 1 year high of GBX 219.80. The company has a debt-to-equity ratio of 6.99, a quick ratio of 7.56 and a current ratio of 2.62.

ITM Power News Roundup

Here are the key news stories impacting ITM Power this week:

• Positive Sentiment: ITM Power’s subsidiary Hydropulse signed heads of terms for a proposed 150MW green-hydrogen plant at a refinery. ITM described the opportunity as potentially its largest commercial commitment to date, strengthening the company’s project pipeline and validating demand for its electrolyser technology. ITM’s Hydropulse lands preliminary deal for 150MW refinery hydrogen plant
• Positive Sentiment: The proposed refinery project could materially expand ITM’s future order book if it progresses to a binding contract and final investment decision. The announcement was reported as the main reason for the market’s renewed interest in the shares. Yorkshire hydrogen firm hails potential for largest commercial commitment to date
• Positive Sentiment: Berenberg reaffirmed its Buy rating and set a GBX 200 price target, implying substantial upside from the recent trading range and signaling continued confidence in ITM’s growth prospects. ITM Power keeps Buy rating at Berenberg Bank
• Neutral Sentiment: The project is currently covered by non-binding heads of terms rather than a firm order. Investors will likely focus on contract conversion, financing, timing and the eventual revenue contribution before assigning its full potential value. ITM Power signs heads of terms for 150MW green hydrogen project
• Negative Sentiment: Coverage also indicates that loss guidance has tightened, underscoring that ITM remains loss-making and that execution costs and project timing remain important risks. The potential contract is therefore positive for growth but does not immediately resolve profitability concerns. ITM Power’s 150MW refinery bet lands as loss guidance tightens

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.