ITM Power "buy"

08.02.07 - Panmure Gordon & Co

LONDON, February 8 (newratings.com) - Analyst Mark Davis of Panmure Gordon maintains his "buy" rating on ITM Power Plc (IJ8). The target price is set to 340p.

In a research note published this morning, the analyst mentions that the company is expected to benefit going forward from the proposed EU legislation aimed at the reduction of CO2 emission from new vehicles. The analyst believes that ITM Power?s hydrogen-producing electrolyser technology is capable of providing the required technical support to automotive OEMs.