National Grid's Equity Raise Removes Funding Doubts, Prompts Rating Lift -- Market Talk

Dow Jones06-12

1027 GMT - National Grid's fundraise creates an attractive entry point for investors, Goldman Sachs says in a research note, upgrading its stock rating to buy from neutral. The rating lift is a result of the U.S. bank raising its EPS estimates by 8% on average over FY25-27 to reflect the U.K. utility's GBP7 billion equity raise outlined last month. "The announcement removes questions around funding and leverage for the company," Goldman analysts write. The bank also lifts its price target to 1,059 pence from 1,007 pence, implying 22% upside on National Grid's current share price. Shares are up 0.4% at 866 pence. (christian.moess@wsj.com)

(END) Dow Jones Newswires

June 12, 2024 06:27 ET (10:27 GMT)

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The rating lift is a result...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"EQR","symbol_name":"资产住宅公司","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2442539735","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2442539735","pubTimestamp":1718188020,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"1027 GMT - National Grid's fundraise creates an attractive entry point for investors, Goldman Sachs says in a research note, upgrading its stock rating to buy from neutral. 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