In a report released today, Constantin Hesse from Jefferies maintained a Buy rating on Ceres Power Holdings (CWR – Research Report), with a price target of p265.00.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
Constantin Hesse’s rating is based on a combination of factors, including Ceres Power Holdings’ strong positioning in the green hydrogen market despite recent changes in its partnership with Bosch. Although Bosch announced its decision to discontinue its involvement with Ceres in the development of solid oxide fuel cells, this is primarily a result of Bosch’s strategic realignment rather than a reflection on Ceres’ performance.
Hesse anticipates potential short-term pressure on Ceres’ stock due to Bosch’s divestment, but he remains optimistic about Ceres’ future prospects. The company’s substantial cash reserves of £102 million provide a solid financial foundation to capitalize on the growing demand for green hydrogen technologies. In the long term, the expected acceleration in the adoption of green hydrogen is likely to benefit Ceres, reinforcing the Buy rating.