ITM Power (LON:ITM) Price target cut to GBX 300 by Berenberg Bank analysts

ITM power supply (LON:ITM) saw its target price drop by Berenberg Bank stock research analysts from GBX 350 ($4.78) to GBX 300 ($4.09) in a research note released on Tuesday, Price Targets.com reports. The brokerage currently has a “sell” rating on the stock. Berenberg Bank’s price target indicates a potential decline of 6.07% from the current share price.

Other equity research analysts have also recently released reports on the company. Barclays reiterated an “overweight” rating and issued a GBX 600 ($8.19) price target on ITM Power shares in a Friday, January 14 report. Citigroup reiterated a “buy” rating and issued a GBX 550 ($7.50) price target on ITM Power shares in a Friday, Dec. 17 report. JPMorgan Chase & Co. reiterated a “neutral” rating on ITM Power shares in a report released Monday. Finally, Liberum Capital restated a “buy” rating and set a target price of GBX 691 ($9.43) on ITM Power shares in a Thursday, December 16 report. One investment analyst has assigned the stock a sell rating, two have issued a hold rating and five have assigned the company a buy rating. According to MarketBeat.com, the stock currently has a consensus buy quote and an average price target of 543.88 GBX ($7.42).

ITM stock opened at 319.40 GBX ($4.36) on Tuesday. The company has a current ratio of 8.11, a quick ratio of 7.56 and a debt ratio of 3.29. ITM Power has a 12-month low of 307.06 GBX ($4.19) and a 12-month high of 724 GBX ($9.88). The stock has a market capitalization of £1.96 billion and a price-earnings ratio of -58.15. The company’s 50-day moving average is 410.50 GBX and its 200-day moving average is 426.62 GBX.

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ITM Power Company Profile

ITM Power Plc designs, manufactures and sells hydrogen power systems for the energy storage, transport and industrial sectors in the UK, Germany, France, Italy, the Netherlands and the USA . It offers HG gases for power-to-gas, clean fuel and industrial hydrogen applications. The company is also involved in the research and development of scientific and engineering projects; development and manufacture of prototype products; and the sale of electrolysis equipment and hydrogen storage solutions.

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Analyst Recommendations for ITM Power (LON:ITM)

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