ITM Power (LON:ITM) Stock Rating Upgraded by Berenberg Bank

Key Points

• ITM Power has received a rating upgrade to "buy" from Berenberg Bank, with a new price target of GBX 100 ($1.33), representing a potential upside of 55.51% from its current price.
• JPMorgan Chase & Co. has maintained a "neutral" rating on ITM Power shares, indicating mixed sentiment among analysts.
• As of the latest trading, ITM Power stock was priced at GBX 64.30 ($0.85), with a market capitalization of £400.72 million and a significant 52-week price range between GBX 25.08 ($0.33) and GBX 98.45 ($1.31).

ITM Power (LON:ITM - Get Free Report) was upgraded by investment analysts at Berenberg Bank to a "buy" rating in a research note issued on Friday,Digital Look reports. The firm currently has a GBX 100 ($1.33) price target on the stock, up from their prior price target of GBX 59 ($0.78). Berenberg Bank's price target indicates a potential upside of 55.51% from the company's current price.

Separately, JPMorgan Chase & Co. reissued a "neutral" rating on shares of ITM Power in a research report on Monday, July 28th.

ITM Power Stock Performance

Shares of ITM Power stock opened at GBX 64.30 ($0.85) on Friday. The firm has a market capitalization of £400.72 million, a P/E ratio of -14.71 and a beta of 2.03. The company has a quick ratio of 7.56, a current ratio of 4.17 and a debt-to-equity ratio of 4.73. The company has a 50 day moving average price of GBX 72.78 and a 200 day moving average price of GBX 46.54. ITM Power has a 52 week low of GBX 25.08 ($0.33) and a 52 week high of GBX 98.45 ($1.31).

ITM Power Company Profile

ITM Power was founded in 2000, and ITM Power PLC was admitted to the London Stock Exchange's AIM market in 2004. Headquartered in Sheffield, England, ITM Power designs and manufactures electrolysers based on proton exchange membrane (PEM) technology to produce green hydrogen, the only net zero energy gas, using renewable electricity and water.

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