ITM Power - Change of Stance

Change of Stance - Take Profits at 38.5p

As shares in ITM Power (ITM) have risen above our fair value target of 37.9p we therefore change our stance to TAKE PROFITS.


This is a marketing communication and cannot be considered independent research. Nothing in this report should be construed as advice, an offer, or the solicitation of an offer to buy or sell securities by us. As we have no knowledge of your individual situation and circumstances the investment(s) covered may not be suitable for you. You should not make any investment decision without consulting a fully qualified financial advisor.

Your capital is at risk by investing in securities and the income from them may fluctuate. Past performance is not necessarily a guide to future performance and forecasts are not a reliable indicator of future results. The marketability of some of the companies we cover is limited and you may have difficulty buying or selling in volume. Additionally, given the smaller capitalisation bias of our coverage, the companies we cover should be considered as high risk.

This financial promotion has been approved by Align Research Limited.

Table: financial overview
Year to April 2015A 2016A 2017E 2018E
Total income (£m) 5.06 8.19 10.87 15.11
PBT (£m) (5.71) (4.36) (2.81) (1.50)
EPS (p) (3.39) (2.17) (1.25) (0.65)
Source: Company accounts & Align Research