Berenberg Bank Issues Positive Forecast for Ceres Power (LON:CWR) Stock Price

Key Points

• Berenberg Bank raised its price target on Ceres Power to GBX 530 (from GBX 300) and kept a "buy" rating, implying roughly a 45.8% upside; Jefferies also reiterates a buy with a GBX 460 target and the consensus target is GBX 495.
• CWR traded at GBX 363.60 with a market cap of £706.9M, but the company remains unprofitable (quarterly EPS -GBX 10.14, negative net margin and ROE) and analysts forecast negative EPS for the current year.
• Ceres Power develops fuel cells and electrolysis technology for green hydrogen using an asset‑light, licensing model and partnerships with firms like Bosch, Doosan, Delta and Weichai to target decarbonisation of heavy industries.

Ceres Power (LON:CWR - Get Free Report) had its price objective upped by Berenberg Bank from GBX 300 to GBX 530 in a research report issued to clients and investors on Wednesday,Digital Look reports. The firm currently has a "buy" rating on the stock. Berenberg Bank's price objective would suggest a potential upside of 45.76% from the stock's previous close.

Separately, Jefferies Financial Group reissued a "buy" rating and set a GBX 460 target price on shares of Ceres Power in a research report on Friday, November 7th. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, Ceres Power currently has a consensus rating of "Buy" and a consensus target price of GBX 495.

Ceres Power Price Performance

CWR stock traded up GBX 18.60 on Wednesday, reaching GBX 363.60. The company had a trading volume of 1,891,956 shares, compared to its average volume of 2,309,771. The company's fifty day moving average is GBX 229.73 and its 200 day moving average is GBX 141.58. Ceres Power has a 1 year low of GBX 44 and a 1 year high of GBX 430.80. The company has a market cap of £706.90 million, a P/E ratio of -19.92 and a beta of 1.60. The company has a debt-to-equity ratio of 1.54, a quick ratio of 12.18 and a current ratio of 6.48.

Ceres Power (LON:CWR - Get Free Report) last released its quarterly earnings results on Friday, September 26th. The company reported GBX (10.14) earnings per share (EPS) for the quarter. Ceres Power had a negative return on equity of 22.96% and a negative net margin of 101.69%. On average, research analysts forecast that Ceres Power will post -12.4426979 earnings per share for the current year.

About Ceres Power

Ceres is a leading developer of clean energy technology: electrolysis for the creation of green hydrogen and fuel cells for power generation. Its asset-light, licensing model has seen it establish partnerships with some of the world's largest companies, such as Bosch, Doosan, Delta and Weichai. Ceres' solid oxide technology supports greater electrification of our energy systems and produces green hydrogen at high-efficiencies as a route to decarbonise emissions-intensive industries such as steelmaking, ammonia and future fuels.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.