ITM Power jumps 21% on upgraded guidance and stronger cash position
ITM Power PLC (AIM:ITM) shares climbed 21% in early trading on Tuesday after the company raised its revenue guidance and reported that it had been cash generative in the second half of the financial year. The hydrogen energy group said it now expects revenue for the year ending 30 April 2025 to reach between £25.5mn and £26.5mn, representing a 30% increase on the midpoint of its previous forecast.
Ceres Power and ITM still favoured as hydrogen winners by US bank
Hydrogen has gone off the oil recently as the sector continues to face delays, with financial investment decisions (FIDs) remaining limited. US bank Jefferies still sees potential for certain companies within the industry that are showing varying degrees of resilience and outlook improvements.
ITM Power left needing more orders, UBS says as targets cut
ITM Power PLC (AIM:ITM) needs to turn customer interest into order growth but is in the hands of a “lacklustre” green hydrogen market, according to UBS analysts. Analysts from the bank cut the clean technology company's share price target from 65p to 60p on Wednesday as a result, alongside issuing a ‘neutral' rating.
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ITM Power shares boosted by new contract win
ITM Power PLC (AIM:ITM) shares strengthened on Monday, rising around 20% at one stage, after announcing a 500 megawatt deal with “a global industrial customer”. Whilst the finer details of the deal will remain confidential, as part of the deal, the AIM-quoted company noted that the 500MW capacity reservation agreement will cover the period until the end of 2028.
See a Fork in the Road?
By James Colby, Portfolio Manager and Strategist, Municipal Bonds Barclays sees stable municipal yields due to supply, while BofA predicts lower rates from Quantitative Tapering and economic softening. Yogi Berra said, “pick it up”.
