ITM Power slips after Peel Hunt cuts target price

By Reuters News

** Shares of energy storage and clean fuel firm ITM Power ITM.L down 2.8% at 84.05 p

** Peel Hunt cuts target price to 88p from 92p

** FY 27 appears to be more an execution and order-conversion year than a demand year. While the strategic opportunity remains substantial, the principal risk is that hydrogen project timelines remain slower than management and investors expect - Peel Hunt

** 6 of the 11 analysts covering the stock have a "buy" or higher rating, 4 has "hold" while 1 rates it at "sell" or lower; median PT is 90p - LSEG-compiled data

** YTD, stock has risen ~35%

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