Ceres Power (LON:CWR) Price Target Raised to GBX 480 at Jefferies Financial Group

Key Points

• Jefferies raised its price target to GBX 480 (from GBX 460) and kept a Buy rating while Berenberg reiterated a Buy with a GBX 530 target, leaving a consensus price target of GBX 505 and implying roughly a 13% upside from the prior close.
• Shares were trading up 5.7% at GBX 424.60 (market cap ~£827m), but the company remains loss-making with a reported negative EPS and a net margin of -145.65%, and analysts expect around -12.44 EPS for the current fiscal year.

Ceres Power (LON:CWR - Get Free Report) had its price objective lifted by equities research analysts at Jefferies Financial Group from GBX 460 to GBX 480 in a note issued to investors on Thursday,Digital Look reports. The brokerage presently has a "buy" rating on the stock. Jefferies Financial Group's price objective points to a potential upside of 13.05% from the company's previous close.

Separately, Berenberg Bank restated a "buy" rating and issued a GBX 530 price objective on shares of Ceres Power in a report on Thursday, March 26th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of GBX 505.

Ceres Power Trading Up 5.7%

Shares of LON CWR opened at GBX 424.60 on Thursday. Ceres Power has a 1-year low of GBX 53.60 and a 1-year high of GBX 434.40. The company has a 50-day moving average of GBX 314.18 and a two-hundred day moving average of GBX 291.27. The company has a market cap of £827.16 million, a PE ratio of -17.32 and a beta of 1.81. The company has a current ratio of 3.27, a quick ratio of 12.18 and a debt-to-equity ratio of 2.24.

Ceres Power (LON:CWR - Get Free Report) last issued its quarterly 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 145.65% and a negative return on equity of 39.26%. As a group, equities analysts expect that Ceres Power will post -12.4426979 earnings per share for the current fiscal year.

About Ceres Power

Ceres is a leading developer of clean energy technology: fuel cells for power generation and electrolysers for green hydrogen. Its asset-light, licensing model has seen it establish partnerships with some of the world's largest companies, such as Doosan, Delta, Denso, Shell, Weichai and Thermax. Ceres' solid oxide technology supports greater electrification of our energy systems, including AI data centres, commercial and industrial applications, and produces green hydrogen at high efficiencies as a route to decarbonise emissions-intensive industries such as ammonia, steelmaking and electrofuels.

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