In a report released today, Marcin Wojtal from Bank of America Securities maintained a Buy rating on National Grid, with a price target of p1,240.00.
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Marcin Wojtal has given his Buy rating due to a combination of factors that highlight the strong potential for National Grid’s stock. The company’s projected earnings per share are expected to grow at an annual rate of approximately 8% from 2025 to 2029, supported by a 3.5% cash dividend yield anticipated in 2026. Additionally, the stock’s price-to-earnings ratio is considered attractive at 11.9x by March 2027, indicating a favorable valuation compared to its peers.
Wojtal’s analysis of the RIIO-3 Draft Determination suggests a potential 11-24% upside to consensus earnings per share for 2027-2028, driven by lower capital expenditure capitalization and increased operational expenditure allowances. Upcoming catalysts include the appointment of a new CEO in November 2025, the sale of LNG Grain, and the RIIO-3 Final Determination in December 2025. Despite recent negative headlines from the NESO report, Wojtal believes the financial impact will be limited and does not affect the overall positive outlook for National Grid.
According to TipRanks, Wojtal is ranked #3758 out of 9670 analysts.
In another report released on July 1, J.P. Morgan also maintained a Buy rating on the stock with a £12.25 price target.