McPhy Energy downgraded to Underweight from Equal Weight at Barclays

Barclays analyst James Hosie downgraded McPhy Energy to Underweight from Equal Weight with a price target of EUR 4, down from EUR 30. The analyst continues to see hydrogen as a key part of decarbonizing “hard-to-abate sectors.” However, the scale-up takes time, and the listed electrolyzer companies “are not necessarily the best exposed,” the analyst tells investors in a research note.