RE: Looks like Linde could be in the running for this one.17 Mar 2023 07:07
Peel Hunt added on 14th March a target price of 200p for ITM Power [LON:ITM] but reiterated it’s ‘Buy’ rating following a presentation by new CEO Dennis Schulz in which he outlined his strategic priorities for the company for the next 12 months to make ITM Power “a more reliable, professionalised and industrialised company.” This follows on from an announcement by the AIM listed clean energy business that the company has signed an agreement to increase the power supply to its Bessemer Park location by 300%, to facilitate increased product testing. Whilst delivery of this won’t happen until the end of next year, it is seen as a critical step in removing bottlenecks from manufacturing and allowing production to be scaled.
At the time of writing, shares were trading at 82.92p, down 14.4% for the year to date and -76% over the last 12 months.