** Deutsche Bank cuts German electrolysis company Thyssenkrupp Nucera 
NCH2 to “hold” from “buy”, seeing limited upside to its EUR 12 price target after share price recovery
** Deutsche Bank says the development of green hydrogen is still lagging behind expectations, with orders postponed
** The brokerage cuts its green hydrogen sales forecast by around 30% for FY 2025/26, “assuming a slower market ramp-up and ongoing delays in project awards”
** Deutsche Bank says that as the company’s Alkaline Water Electrolysis technology division contributes little to gross profit and management has room to reduce costs, group EBIT should still come close to break-even for FY 2025/26
** Of 13 analysts who cover the stock, seven rate the stock “strong buy” or “buy”, three rate it “hold” and three rate it “sell”, according to LSEG data
