Berenberg stays at 'buy' on CeresPower, target price kept at 800p

15th Apr 2024 14:59

(Sharecast News) - Analysts at Berenberg kept their recommendation for shares of Ceres Power at 'buy' following the company's full-year results.

Their 800p per share target price was also unchanged.

In their opinion, the developer of power generation and hydrogen technology outfit's latest numbers were 'neutral', although operational progress in the fuel cell (SOFC) and electrolyser units (SOEC) was described as "solid".

One potential negative however was the company's indication that Bosch sales might be slower than expected.

"In our view, Ceres has made good progress against a difficult backdrop for the industry and we remain positive about the long-term outlook for its differentiated technology and high-margin licensing business model."