Bank of America Securities analyst Marcin Wojtal has reiterated their bullish stance on NG stock, giving a Buy rating on June 16.
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Marcin Wojtal has given his Buy rating due to a combination of factors that highlight National Grid’s strong potential for growth and value creation. The company is expected to achieve a compound annual growth rate in earnings per share of nearly 8% by 2029, providing a high level of earnings visibility. Additionally, the upcoming Ofgem Draft Determination for RIIO-3 is anticipated to be supportive, which should bolster earnings and balance sheet metrics.
Furthermore, Wojtal notes the potential for improvements in return on equity in the US and the absence of any need for additional equity funding until the end of the decade. The strategic review anticipated with the new CEO’s appointment in November 2025 could also unlock further value. National Grid’s current trading at a discount compared to peers, despite its faster regulatory asset base growth, further supports the Buy rating.
According to TipRanks, Wojtal is a 3-star analyst with an average return of 6.1% and a 71.88% success rate.
In another report released on June 16, Bernstein also maintained a Buy rating on the stock with a £12.40 price target.