2. Copel ( ELP), or Companhia Paranaense de Energia, is a fully integrated electric utility in Brazil. The company engages in the business of generation, transmission and distribution of electric power. Copel runs a generating complex of 18 power plants, while its transmission system totals 1,913 kilometers of lines and 31 automated substations. Of the six analysts covering the stock, four rate it a buy and the rest suggest a hold. There are no sell ratings on the stock. The stock's average 12-month price target is $26.00, about 27.3% higher than the current price, according to a Bloomberg consensus. The company reported strong 2011 third-quarter net revenue of $1,235.6 million, an increase of 15.3% from the year-ago quarter, driven by higher electricity sales volumes. Net income for the quarter increased 22.1% to $209.3 million, or 76 cents per share, from the same quarter a year before. As of Sept. 30, the company had 3.88 million customers, vs. 3.81 million as of June. For the first nine months of 2011, the upturn in COPEL's captive market consumption was 5.5%, or 16,858 GWh. For fiscal 2011, COPEL has a capital investment plan of 2,060.5 million reals, with 49.7% on generation and transmission, 45.3% on distribution and 5.0% on telecommunications.