UBS downgraded National Grid (NGG) to Neutral from Buy with a price target of 1,150 GBp, down from 1,160 GBp. The firm acknowledges the RIIO-T3 draft will be positive, but says this is already all in the share price. UBS cites valuation for the downgrade.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NGG:
- National Grid Proposes New Rate Plan for Upstate New York
- National Grid price target raised to 1,225 GBp from 1,175 GBp at JPMorgan
- National Grid Issues Pre-Close Update Ahead of Full-Year Results
- National Grid Updates Voting Rights and Managerial Transactions
- National Grid’s Ian Livingston to Chair S&P Global