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Risk Warning
26/10/2011
Shares in International Power add 0.1 percent supported by a reassuring interim management statement from the power generator, with CFD specialist Prime Markets recommending the stock as a "buy" on an attractive fundamental and technical entry point.
"Following the integration of GDF Suez and International Power at the start of the year, the group has delivered a remarkably steady performance, one that will no doubt have been noticed by investors seeking a solid defensive play with a reasonable dividend yield," says Richard Curr, head of dealing at Prime Markets.
"Today's statement has reassured on the guidance for the year, but the gradual recovery of the shares since August now sees the attractive fundamental outlook supported on a technical level, with the shares now sitting just above the major 200-day and 100-day support lines," Curr adds.
Prime Markets views the current charting and price level as an attractive entry point for would-be investors, with a short term target of 350 pence expected in the coming days.
Securities and Derivatives markets may be subject to rapid and unexpected price movements and past performance is not necessarily a guide to future performance. Trading in these markets is generally considered to be suitable only for the more experienced investor as it carries a high degree of risk. An investor may not receive back the amount of their original investment and in certain circumstances may be liable for a sum that is greater than their original investment. If in any doubt, please seek independent financial advice.