Ceres Power Holdings PLC shares fell 7% to 320p after broker Peel Hunt downgraded the stock from 'hold' to 'sell', citing concerns that the current valuation is too optimistic about the company's long-term growth. Peel Hunt raised its target price slightly but cut 2026 revenue estimates following Ceres's guidance of contracted revenue around £45 million, which was below expectations. The broker also tempered enthusiasm over Ceres's partnership with Centrica, noting the CEO's statement that near-term revenue from the deal would be modest. Ceres Power specializes in solid oxide fuel cell and electrolyser technology for clean energy and recently published its preliminary full-year results.
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