ITM Power upgraded to Equal Weight from Underweight at Morgan Stanley
The Fly

ITM Power upgraded to Equal Weight from Underweight at Morgan Stanley

Morgan Stanley upgraded ITM Power (ITMPF) to Equal Weight from Underweight with a price target of 40 GBp, down from 50 GBp. Visibility on potential new large orders remains low for ITM Power, but the company has a relatively stronger funding position and the consensus expectations on the group’s revenue trajectory for the coming years looks more reasonable than for Nel ASA, the analyst tells investors in a research note.

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