ITM Power "buy"

09.01.07 - Panmure Gordon & Co

LONDON, January 9 (newratings.com) - Analyst Mark Davis of Panmure Gordon maintains his "buy" rating on ITM Power Plc (IJ8). The target price is set to 600p.

In a research note published this morning, the analyst mentions that the company has achieved all four of its December milestones. This development gives ITM Power greater scope to develop partnerships, field trial units and commercial products, the analyst says. There are seven more milestones to be met in 2007, Panmure Gordon adds.