RBC Capital Markets upgrades ITM Power to 'outperform'
ITM Power
35.78p
16:34 27/12/24
-1.16%
-0.42p
RBC Capital Markets upgraded ITM Power on Wednesday to ‘outperform’ from ‘sector perform’ and hiked the price target to 500p form 300p.
Alternative Energy
0.00
15:10 16/09/24
0.00%
0.00
FTSE AIM 100
3,446.36
17:05 27/12/24
n/a
n/a
FTSE AIM 50
3,881.53
17:05 27/12/24
n/a
n/a
FTSE AIM All-Share
715.19
17:00 27/12/24
n/a
n/a
The bank said that while there remain uncertainties around the timing of large purchase orders and ramp-up costs potentially affecting near-term profitability, it sees the growth positioning of ITM significantly de-risked amidst the current market dynamics.
"Our detailed analysis of electrolyser stacks also suggest ITM is more protected from major raw material disruptions relative to peers," it said.
At 1050 BST, the shares were up 1.2% at 351.60p.