ITM Power’s (ITM) “Equal Weight” Rating Reiterated at Morgan Stanley

ITM Power (LON:ITMGet Rating)‘s stock had its “equal weight” rating reissued by equities research analysts at Morgan Stanley in a research report issued on Tuesday, MarketBeat reports. They currently have a GBX 470 ($5.87) price target on the stock. Morgan Stanley’s price objective indicates a potential upside of 43.69% from the company’s previous close.

ITM has been the topic of several other research reports. Royal Bank of Canada upgraded shares of ITM Power to an “outperform” rating and upped their price objective for the stock from GBX 300 ($3.75) to GBX 500 ($6.25) in a report on Wednesday, April 13th. Berenberg Bank reaffirmed a “sell” rating and issued a GBX 225 ($2.81) price target on shares of ITM Power in a research report on Wednesday, March 16th. Barclays reiterated an “overweight” rating and set a GBX 600 ($7.50) price target on shares of ITM Power in a research note on Thursday, January 27th. Citigroup reissued a “buy” rating and issued a GBX 550 ($6.87) price objective on shares of ITM Power in a research note on Wednesday, March 9th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of ITM Power in a research report on Wednesday, April 20th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of GBX 530.75 ($6.63).

LON ITM opened at GBX 327.10 ($4.09) on Tuesday. The company has a quick ratio of 5.59, a current ratio of 5.94 and a debt-to-equity ratio of 3.59. ITM Power has a 52 week low of GBX 208.24 ($2.60) and a 52 week high of GBX 536.15 ($6.70). The business has a 50 day moving average price of GBX 347.97 and a 200-day moving average price of GBX 365.98. The company has a market cap of £2.01 billion and a price-to-earnings ratio of -57.34.

About ITM Power (Get Rating)

ITM Power Plc designs, manufactures, and sells hydrogen energy systems for energy storage, transportation, and industrial sectors in the United Kingdom, Germany, rest of Europe, and the United States. It offers HGas for power-to-gas, clean fuel, and industrial hydrogen applications. The company is also involved in the development and manufacture of prototype products; and sale of electrolysis equipment and hydrogen storage solutions.

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Analyst Recommendations for ITM Power (LON:ITM)

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