ITM Power, the Industrials sector company, was revisited by a Wall Street analyst today. Analyst Constantin Hesse from Jefferies maintained a Buy rating on the stock and has a p115.00 price target.
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Constantin Hesse has given his Buy rating due to a combination of factors linked to ITM Power’s improving commercial profile and financial guidance. The company has lifted its FY26 revenue outlook by about 11%, reflecting faster-than-expected project execution and the early benefits from newly signed contracts, signaling stronger demand for its electrolyzer solutions despite sector-wide uncertainty.
He also points to ITM Power’s expanding contract backlog, which has risen markedly over the past two years, indicating growing visibility on future revenues. In Hesse’s view, near-term volatility in the green hydrogen market is mitigated by the company’s robust cash position and unchanged EBITDA guidance, supporting the investment case and justifying a positive stance on the shares.