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.
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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
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