Jefferies Financial Group Upgrades ITM Power (LON:ITM) to "Buy"

Key Points

• Jefferies upgraded ITM Power to a Buy and raised its target price to £200 from £115.
• Shares traded at GBX 171.24 (up ~0.6%) with a market cap of about £1.06 billion, and the stock carries a consensus "Moderate Buy" amid mixed analyst ratings and varied price targets.
• ITM Power designs and manufactures PEM electrolysers for green hydrogen and offers a build‑own‑operate hydrogen supply model (Hydropulse), and holds the Green Economy Mark.

ITM Power (LON:ITM - Get Free Report) was upgraded by equities researchers at Jefferies Financial Group to a "buy" rating in a note issued to investors on Thursday,Digital Look reports. The firm presently has a £200 target price on the stock, up from their prior target price of £115.

Other equities research analysts also recently issued reports about the stock. Berenberg Bank increased their price objective on shares of ITM Power from GBX 100 to GBX 110 and gave the company a "buy" rating in a research report on Tuesday, April 14th. UBS Group reiterated a "neutral" rating and issued a GBX 60 price target on shares of ITM Power in a research note on Friday, January 16th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, ITM Power presently has a consensus rating of "Moderate Buy" and a consensus price target of GBX 6,723.33.

ITM Power Stock Up 0.6%

Shares of ITM stock traded up GBX 1.04 during trading on Thursday, reaching GBX 171.24. The company's stock had a trading volume of 6,647,579 shares, compared to its average volume of 5,306,892. The company has a market capitalization of £1.06 billion, a price-to-earnings ratio of -34.25 and a beta of 2.03. ITM Power has a 1-year low of GBX 32.80 and a 1-year high of GBX 174.80. The company has a debt-to-equity ratio of 6.99, a current ratio of 2.62 and a quick ratio of 7.56. The stock's 50-day moving average price is GBX 85.57 and its 200 day moving average price is GBX 74.84.

About ITM Power

ITM Power designs and manufactures industrial-scale electrolysers for green hydrogen production. Its proprietary PEM technology, vertically integrated manufacturing, and in-house engineering capabilities enable it to supply standardised, high-performance hydrogen plants. With a proven track record in large-scale projects, ITM Power helps leading industrial and energy companies achieve their decarbonisation goals. In addition to its equipment offering, the company provides reliable and cost-competitive hydrogen supply through its build, own and operate (BOO) model, Hydropulse. Headquartered in the UK, ITM Power is listed on the London Stock Exchange AIM LSE: ITM and holds the Green Economy Mark, which recognises companies that generate over 50% of their revenues from green products and services.

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