ITM Power Stock Forecast

Stock Price Forecast

According to 12 analysts polled by S&P Global, ITM Power stock has a consensus rating of "Buy" and an average price target of 119p. The average 1-year stock price forecast is 4.96% lower than the current stock price, while the lowest is 60p (-52.27%) and the highest is 310p (+146.62%).

Price Target: 119p (-4.96%)

Analyst Consensus: Buy

Target	Low	Average	Median	High
Price	60p	119p	92p	310p
Change	-52.27%	-4.96%	-26.78%	+146.62%

Analyst Ratings

The average analyst rating for ITM Power stock is "Buy". This means that analysts believe this stock is likely to outperform the market over the next twelve months.

Recommendation Trends

Rating	Jan '26	Feb '26	Mar '26	Apr '26	May '26	Jun '26
Strong Buy	6	6	6	6	6	6
Buy	1	1	1	2	2	2
Hold	4	4	4	3	3	3
Sell	0	0	0	0	0	0
Strong Sell	1	1	1	1	1	1
Total	12	12	12	12	12	12

Latest Forecasts

Analyst	Firm	Rating	Rating	Action	Price Target	Upside	Date
Unknown Analyst Goldman Sachs No rating	Goldman Sachs	Sell Maintains 55p → 63p	Sell	Maintains	55p → 63p	-49.88%	Jun 5, 2026
Constantin Hesse Jefferies	Jefferies	Buy Maintains 115p → 200p	Buy	Maintains	115p → 200p	+59.11%	May 8, 2026
Arthur Sitbon Morgan Stanley	Morgan Stanley	Buy Upgrades 60p → 170p	Buy	Upgrades	60p → 170p	+35.24%	Apr 29, 2026
Alex Smith CFA Berenberg Bank	Berenberg Bank	Buy Reiterates 110p	Buy	Reiterates	110p	-12.49%	Apr 14, 2026
Christopher Leonard UBS	UBS	Hold Maintains 60p	Hold	Maintains	60p	-52.27%	Mar 13, 2026

More Analyst Ratings

Financial Forecast

Revenue This Year

41.54M

from 26.04M

59.52%

from 26.04M

Revenue Next Year

57.56M

from 41.54M

38.57%

from 41.54M

EPS This Year

-0.04

from -0.05

EPS Next Year

-0.03

from -0.04

Fiscal Year	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	FY 2026
Period Ending	Apr 30, 2021	Apr 30, 2022	Apr 30, 2023	Apr 30, 2024	Apr 30, 2025	Apr 30, 2026
Revenue	5.63M	5.63M	5.23M	16.51M	26.04M	41.54M
Revenue Growth	12.40%	-0.07%	-7.07%	215.72%	57.73%	59.52%
Gross Profit	-15.35M	-23.48M	-79.07M	-16.66M	-23.69M	3.32M
Gross Margin	-272.65%	-417.22%	-1,512.05%	-100.94%	-90.96%	8.00%
Operating Income	-26.66M	-44.74M	-99.18M	-36.47M	-41.46M	-35.58M
Net Income	-27.70M	-46.69M	-101.20M	-27.22M	-45.52M	-28.20M
EPS	-	-	-	-	-0.05	-0.04
Free Cash Flow	-27.29M	-39.16M	-80.43M	-35.56M	4.72M	-37.88M
No. Analysts	-	-	-	-	-	8

EPS and Forward PE are based on non-GAAP adjusted numbers. Financial currency is GBP.

Revenue Forecast

Revenue	2026	2027	2028
High	45.8M
Avg	41.5M
Low	38.6M

Revenue Growth

Revenue Growth	2026	2027	2028
High	75.7%
Avg	59.5%
Low	48.1%

EPS Forecast

EPS	2026	2027	2028
High	-0.03
Avg	-0.04
Low	-0.05

EPS Growth

EPS Growth	2026	2027	2028
High	-
Avg	-
Low	-