Bryan Garnier - ITM POWER (ITM.L) ITM POWER: The promises of the JV with Linde are starting to materialize | BUY | GBP650 VS. GBP600

Report

Bryan Garnier

Xavier Regnard

ITM POWER: The promises of the JV with Linde are starting to materialize | BUY | GBP650 VS. GBP600

ITM POWER - BUY | GBP650 VS. GBP600 (-2%)
The promises of the JV with Linde are starting to materialize

ITM will build the world’s biggest PEM electrolyser
First sale via the JV with Linde, more to come
Big projects can be challenging but the JV will limit the risk
Buy rating confirmed, TP 650p vs. 600p

14/01/2021 5 EN

Underlying

ITM POWER

See profile

Provider

Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

See profile

Analysts

Xavier Regnard

Other Reports on these Companies

Bryan Garnier

ITM POWER: Do you really need 5 GW of capacity by 2024 ? | BUY | GBP600 VS. GBP650 (+26%)

ITM POWER - BUY | GBP600 VS. GBP650 (+26%) Do you really need 5 GW of capacity by 2024 ? £250m capital increase to increase manufacturing capacities Is 5 GW by 2024 oversized ? We think it is Buy rating confirmed but TP adjusted from GBX650 to GBX600

October 15, 2021 October 15, 2021 4 EN

Independent Investment Research

Monthly LMI Update Independent Investment Research

Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked. This compares to the total dividends of 5 cents per share in FY20. The Board has confirmed that, in...

August 6, 2021 August 6, 2021 10 EN

Bryan Garnier

ITM POWER: Revenues are still limited but we anticipate a strong acceleration thanks to the backlog | BUY | GBP650(+1%)

ITM POWER - BUY | GBP650(+1%) Revenues are still limited but we anticipate a strong acceleration thanks to the backlog Very limited revenues affected by Covid-19 issues Future growth backed by good order intake Positive stance confirmed. TP 650p

January 28, 2021 January 28, 2021 4 EN

L'Oréal reports encouraging Q1 2024 sales figures

L'Oréal's Q1 sales were above market expectations. Excluding a technical one-off positive impact, sales grew 8.1% lfl over the quarter (consensus: +6.4%) thanks to strong performances in the mass market and Derma Beauty divisions. L'Oréal continued to outperform a still dynamic beauty market (+6%).

2h / 7m 2h / 7m 1 EN

Clement Genelot

Clement Genelot

Food Delivery: diverging growth/FCF profiles

Post TKWY and ROO's Q1 figures and ahead of DHER's publication, we note an improving growth trend in Q1. This growth will nevertheless have to rebalance towards orders as out-of-home food is also set to face disinflation this year. The ability to recreate HSD% growth will be the name of the 2024-25

2h / 18m 2h / 18m 1 EN

Cedric Rossi

Cedric Rossi

EssilorLux: in-line Q1 sales performance and good vibes ahead of Q2

Yesterday evening, EssilorLux unveiled Q1 sales up 5.5% FX-n to EUR6.34bn, fairly in line with CSSe (EUR6.38bn) despite a tough comp base and unfavourable calendar effect. We see room for accelerating trends given increased tailwinds from: 1/ pricing in frames (BGe: MSD price hike), 2/ the ramp-up

2h / 19m 2h / 19m 1 EN

Sign-up for free to access full reports immediately

Email Address*

Choose Password* ( 6 or more characters )

Due to regulatory restrictions regarding the distribution of financial research, this report is restricted to a specific region or investor type. Get access to exclusive reports by answering the questions below.

Select your country*

Get financial insights straight to your inbox

By clicking "register" you accept the Terms and Conditions & Privacy Policy

Already on ResearchPool?

Almost there...

Are you a professional investor?

Select your country

REGISTER

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

In order to access this report please create an account.

LOGIN

ITM POWER: The promises of the JV with Linde are starting to materialize | BUY | GBP650 VS. GBP600

ITM POWER: Do you really need 5 GW of capacity by 2024 ? | BUY | GBP600 VS. GBP650 (+26%)

Monthly LMI Update Independent Investment Research

ITM POWER: Revenues are still limited but we anticipate a strong acceleration thanks to the backlog | BUY | GBP650(+1%)

L'Oréal reports encouraging Q1 2024 sales figures

Food Delivery: diverging growth/FCF profiles

EssilorLux: in-line Q1 sales performance and good vibes ahead of Q2

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

Sign-up for free to access full reports immediately

ResearchPool Subscriptions

Get the most out of your insights

Why subscribe?

How to subscribe

ResearchPool Subscriptions

This report is only available to subscribers

Why subscribe?

How to subscribe