National Grid says H2 performance in line with estimates; Citi downgrades

seekingalpha10-04

National Grid (NYSE:NGG) -2.4% in Thursday's trading after saying its half-year performance was in line with its expectations, adding it expects H2 underlying earnings will come in higher than the H1 ...

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The U.K.-based utility also said it expects to recover an additional 70M contribution from the Electricity System Operator compared to guidance, reflecting ownership and held-for-sale accounting treatment up to September 30. Also, Citi downgrades National Grid  to Neutral from Buy, saying the company still offers solid growth and earnings potential compared with peers but this appears to be reflected in the stock price, given 20% gains over the last four months. \"We have no hesitation to step back into the shares should there be any unjustified selloff given the strong fundamentals,\" Citi analyst Jenny Ping writes.","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":["rate"],"viewcount":null,"language":"en","relate_stocks":{"NGG":"英国国家电网公司"},"translate_title":"国家电网表示下半年业绩符合预期；花旗下调评级","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NGG":0.9},"content_text":"National Grid (NYSE:NGG) -2.4% in Thursday's trading after saying its half-year performance was in line with its expectations, adding it expects H2 underlying earnings will come in higher than the H1 period ended September 30. The U.K.-based utility also said it expects to recover an additional 70M contribution from the Electricity System Operator compared to guidance, reflecting ownership and held-for-sale accounting treatment up to September 30. 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