ITM Power plc 18.0% potential upside indicated by Berenberg Bank

ITM Power plc with ticker (LON:ITM) now has a potential upside of 18.0% according to Berenberg Bank.

ITM.L

Berenberg Bank set a target price of 59 GBX for the company, which when compared to the ITM Power plc share price of 50 GBX at opening today (06/09/2024) indicates a potential upside of 18.0%. Trading has ranged between 43 (52 week low) and 87 (52 week high) with an average of 2,685,825 shares exchanging hands daily. The market capitalisation at the time of writing is £306,956,819.

ITM Power PLC is a United Kingdom-based company, which designs and manufactures electrolysis based on proton exchange membrane (PEM) technology to produce green hydrogen using renewable electricity and water. The Company makes electrolyzes in a range of sizes to suit its customers needs from two megawatts (MW) to projects in excess of 100 MW. Its electrolyze products include TRIDENT, NEPTUNE and POSEIDON. TRIDENT is a PEM electrolyzer stack technology. TRIDENT is a 2 MW electrolyzer skid based on its 30 bar stacks. NEPTUNE is a fully autonomous electrolyzer system. Supplied with a power conversion system and incorporating all necessary balance of the plant, the electrolyzer can be readily deployed as a complete package. POSEIDON is a 20 MW module for large-scale projects. POSEIDON is a modular building block enabling scale up with an optimized footprint. Suitable for both indoor and outdoor installation, it consists of skid-mounted units which can be prefabricated and pre-tested.