Analyst Constantin Hesse of Jefferies maintained a Buy rating on Ceres Power Holdings (CWR – Research Report), retaining the price target of p265.00.
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Constantin Hesse’s rating is based on Ceres Power Holdings’ financial performance and future outlook. The company’s revenue for the second half of fiscal year 2024 met expectations, despite a revision in milestone payment recognition. This indicates stability in their financial operations. Additionally, the order intake and cash reserves align with preliminary figures, suggesting a solid financial position.
Despite the termination of a contract with Bosch, which affected the share price, the company’s revenue growth and improved gross profit margin demonstrate resilience. The expectation of additional guidance in the upcoming trading update also provides a positive outlook. These factors contribute to Hesse’s confidence in recommending a Buy rating for Ceres Power Holdings.