ITM Power’s (ITM) Buy Rating Reiterated at Berenberg Bank

Berenberg Bank reaffirmed their buy rating on shares of ITM Power (LON:ITM) in a research note published on Monday,Digital Look reports. Berenberg Bank currently has a GBX 200 price target on the stock.

ITM has been the subject of a number of other reports. JPMorgan Chase & Co. boosted their target price on shares of 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 target 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.com, the stock has a consensus rating of “Hold” and a consensus target price of GBX 4,086.40.

ITM Power Stock Down 1.6%

ITM opened at GBX 93.55 on Monday. 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 firm has a 50 day moving average price of GBX 102.93 and a 200-day moving average price of GBX 117.91. The stock has a market capitalization of £645.68 million, a price-to-earnings ratio of -18.71 and a beta of 2.85.

About ITM Power

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.