ITM Power plc -11.6% potential downside indicated by Berenberg Bank

Broker Ratings

ITM Power plc with ticker (LON:ITM) now has a potential downside of -11.6% according to Berenberg Bank.

Berenberg Bank set a target price of 185 GBX for the company, which when compared to the ITM Power plc share price of 207 GBX at opening today (22/06/2022) indicates a potential downside of -11.6%. Trading has ranged between 201 (52 week low) and 536 (52 week high) with an average of 3,211,454 shares exchanging hands daily. The market capitalisation at the time of writing is £1,267,127,832.

ITM Power plc is a United Kingdom-based energy storage and clean fuel company. It manufactures integrated hydrogen energy solutions for grid balancing, energy storage and the production of renewable hydrogen for transport, renewable heat, and chemicals. It is focused on expanding production capacity of its electrolyser stacks and products. Its proton exchange membrane (PEM) electrolysers use renewable electricity and water to create green hydrogen through a process called electrolysis. Its electrolysers include HGAS1SP, HGAS3SP, 3MEP CUBE and 2 GEP Skid. HGAS1SP is the smallest containerized PEM electrolyser system. The HGAS1SP Plug & Play product includes a single ITM Power PEM electrolyser stack alongside all the necessary sub-systems required to produce self-pressurized green hydrogen gas. HGAS3SP is a medium-sized containerized PEM electrolyser system. 3MEP CUBE is a modular system for large hydrogen production. 2 GEP Skid are two stack modules with five-megawatt (MW) capacity.

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