ITM Power’s (ITM) “Buy” Rating Reaffirmed at Berenberg Bank

ITM Power (LON:ITM)‘s stock had its “buy” rating reiterated by research analysts at Berenberg Bank in a report released on Monday, Digital Look reports. They presently have a GBX 200 price objective on the stock. Berenberg Bank’s price objective points to a potential upside of 111.98% from the company’s current price.

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

ITM Power Price Performance

Shares of ITM Power stock opened at GBX 94.35 on Monday. The firm has a market cap of £651.21 million, a PE ratio of -18.87 and a beta of 2.85. ITM Power has a twelve month low of GBX 57.90 and a twelve month high of GBX 219.80. The company has a quick ratio of 7.56, a current ratio of 2.62 and a debt-to-equity ratio of 6.99. The business has a 50-day moving average price of GBX 103.30 and a 200 day moving average price of GBX 117.47.

More ITM Power News

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

• Positive Sentiment: ITM Power subsidiary Hydropulse signed heads of terms with a refinery operator for a potential 150MW green-hydrogen plant. ITM described the opportunity as potentially its largest commercial commitment to date, which could materially improve future order visibility if it progresses to a binding contract. ITM’s Hydropulse lands preliminary deal for 150MW refinery hydrogen plant
• Positive Sentiment: The 150MW project generated significant investor attention, with reports indicating that ITM shares rose following the announcement. The potential refinery application supports the company’s strategy of supplying large industrial customers with electrolyser systems. ITM Power shares jump on 150 MW green hydrogen project
• Positive Sentiment: Berenberg reaffirmed its Buy rating on ITM Power and maintained a GBX 200 price target, implying substantial upside from the current trading range and reinforcing the bullish view on the company’s long-term hydrogen prospects. ITM Power keeps Buy rating at Berenberg Bank
• Neutral Sentiment: The refinery agreement is a heads-of-terms arrangement, rather than a final investment decision or firm purchase order. Investors will likely look for details on contract timing, project financing, customer commitment and ITM’s eventual revenue contribution. ITM Power signs heads of terms for 150MW project
• Negative Sentiment: ITM remains loss-making, and reports highlighted tightened loss guidance. The company therefore still faces execution, cash-burn and project-conversion risks despite the positive pipeline news. ITM Power’s 150MW refinery opportunity and loss guidance

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.