Berenberg Bank Reaffirms Buy Rating for Ceres Power (LON:CWR)

Key Points

• Berenberg Bank reaffirmed a Buy rating on Ceres Power with a GBX 530 price target, implying about a 56.8% upside from the prior close.
• Ceres shares jumped ~9.5% to open at GBX 338; the company has a market cap of £658.1m but negative profitability metrics (quarterly EPS GBX -24.52, negative net margin and ROE) and analysts forecast roughly -12.44 EPS for the current fiscal year.
• Ceres Power is a developer of clean-energy technologies (electrolysis for green hydrogen and fuel cells) using an asset-light licensing model and partnerships with major industrial firms like Bosch, Doosan, Delta and Weichai.

Ceres Power (LON:CWR - Get Free Report)'s stock had its "buy" rating reiterated by stock analysts at Berenberg Bank in a research report issued on Thursday, Marketbeat.com reports. They currently have a GBX 530 price objective on the stock. Berenberg Bank's target price indicates a potential upside of 56.80% from the company's previous close.

Ceres Power Stock Up 9.5%

Shares of CWR stock opened at GBX 338 on Thursday. Ceres Power has a 1-year low of GBX 44 and a 1-year high of GBX 430.80. The stock's fifty day moving average price is GBX 309.18 and its 200 day moving average price is GBX 269.51. The company has a debt-to-equity ratio of 2.08, a current ratio of 5.37 and a quick ratio of 12.18. The company has a market cap of £658.13 million, a price-to-earnings ratio of -18.52 and a beta of 1.81.

Ceres Power (LON:CWR - Get Free Report) last announced its earnings results on Thursday, March 26th. The company reported GBX (24.52) earnings per share (EPS) for the quarter. Ceres Power had a negative net margin of 79.44% and a negative return on equity of 24.51%. On average, research analysts expect that Ceres Power will post -12.4426979 earnings per share for the current fiscal year.

Ceres Power Company Profile

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.

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