National Grid's Fundamentals Are Strong -- Market Talk

Dow Jones01-20

0709 GMT - National Grid's earnings growth profile and value of its regulated assets are attractive, analysts at Citi bank write. The British energy-infrastructure company has political and regulatory support which is de-risking investments, the analysts say. U.K. energy regulator Ofgem recognizes that investors need higher returns and is making projects more attractive as a result, they say. Meanwhile, several projects have been de-risked by upfront development costs and confirmation they won't be exposed to future competition, they add. The analysts upgrade the stock to buy from neutral, and set a share-price target of 1,063 pence. Shares closed Friday at 963.20 pence. (adam.whittaker@wsj.com)

 

(END) Dow Jones Newswires

January 20, 2025 02:09 ET (07:09 GMT)

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