ITM Power "buy"

25.09.07 - Panmure Gordon & Co

LONDON, September 25 (newratings.com) - Analyst Mark Davis of Panmure Gordon maintains his "buy" rating on ITM Power Plc (ITM). The target price is set to 340p.

In a research note published this morning, the analyst mentions that the company has received a "notice of allowance" from the US patent office for its membrane materials and manufacturing process segments. ITM Power?s share price is at the lowest end of its 12-month trading range, which the analysts say presents an attractive investment option.