JPMorgan Chase & Co. Cuts ITM Power (OTCMKTS:ITMPF) Price Target to GBX 230

ITM Power (OTCMKTS:ITMPFGet Rating) had its price target cut by JPMorgan Chase & Co. from GBX 280 ($3.47) to GBX 230 ($2.85) in a research report released on Monday, The Fly reports.

A number of other brokerages have also weighed in on ITMPF. Societe Generale initiated coverage on shares of ITM Power in a research note on Tuesday, November 22nd. They set a buy rating for the company. Jefferies Financial Group lowered shares of ITM Power from a buy rating to a hold rating in a research note on Tuesday, November 15th. HSBC lowered shares of ITM Power from a buy rating to a hold rating in a research note on Friday, October 28th. Citigroup lowered shares of ITM Power from a buy rating to a neutral rating in a research note on Tuesday, November 8th. Finally, Sanford C. Bernstein lowered shares of ITM Power from an outperform rating to a market perform rating in a research note on Wednesday, November 2nd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $365.00.

ITM Power Stock Performance

Shares of OTCMKTS ITMPF opened at $1.11 on Monday. ITM Power has a twelve month low of $0.84 and a twelve month high of $5.71. The company has a 50 day moving average of $1.14 and a 200 day moving average of $1.57.

About ITM Power

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ITM Power Plc designs, manufactures, and sells hydrogen energy systems for energy storage, transportation, and industrial sectors in the United Kingdom, Germany, Australia, rest of Europe, and the United States. It offers HGas1SP, HGas3SP, 3MEP CUBE, and 2GEP Skid. The company is also involved in the development and manufacture of prototype products; and sale of electrolysis equipment, automotive fuel, hydrogen, electrolyser solutions, and hydrogen storage solutions.

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