If you are looking for stocks that are well positioned to maintain their recent uptrend, Energias de Portugal (EDPFY) could be a great choice. It is one of the several stocks that passed through our "Recent Price Strength" screen.
Portugal's largest utility EDP posted on Thursday a nine-month net profit little changed from a year ago as strong income growth in its wind and solar unit was offset by a sharp drop in hydroelectric generation in Iberia and high taxes. EDP-Energias de Portugal said in a statement its consolidated net income edged 1% higher to 518 million euros ($517 million) between January and September. The bottom line was hampered by a severe drought in Iberia that increased EDP's production costs, which, combined with an extraordinary tax on the energy sector in Portugal, caused a loss of 181 million euros in its domestic business after a profit of 160 million euros a year earlier.
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