Credit Suisse Group AG Reaffirms “Underperform” Rating for National Grid plc (NG)
National Grid plc (LON:NG)‘s stock had its “underperform” rating reiterated by stock analysts at Credit Suisse Group AG in a report issued on Friday. They currently have a GBX 840 ($10.96) price objective on the stock. Credit Suisse Group AG’s price target points to a potential downside of 19.19% from the stock’s previous close.
Other analysts have also recently issued research reports about the company. Berenberg Bank reaffirmed a “hold” rating and issued a GBX 970 ($12.66) target price on shares of National Grid plc in a research report on Wednesday, July 20th. Royal Bank Of Canada cut National Grid plc to a “sector performer” rating and raised their target price for the stock from GBX 1,000 ($13.05) to GBX 1,080 ($14.10) in a research report on Friday, July 29th. Deutsche Bank AG raised their target price on National Grid plc from GBX 920 ($12.01) to GBX 1,040 ($13.58) and gave the stock a “hold” rating in a research report on Monday, September 12th. JPMorgan Chase & Co. raised their target price on National Grid plc from GBX 1,050 ($13.71) to GBX 1,150 ($15.01) and gave the stock an “overweight” rating in a research report on Friday, July 22nd. Finally, BNP Paribas reaffirmed an “underperform” rating and issued a GBX 830 ($10.83) target price on shares of National Grid plc in a research report on Tuesday, July 5th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. National Grid plc has an average rating of “Hold” and a consensus price target of GBX 996 ($13.00).
Shares of National Grid plc (LON:NG) traded down 1.75% on Friday, reaching GBX 1039.50. The company had a trading volume of 16,552,020 shares. The company has a 50-day moving average price of GBX 1,069.58 and a 200-day moving average price of GBX 1,034.59. The firm’s market capitalization is GBX 38.95 billion. National Grid plc has a 52-week low of GBX 890.60 and a 52-week high of GBX 1,148.00.
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In other news, insider Pettigrew,John sold 21,949 shares of National Grid plc stock in a transaction dated Monday, July 18th. The stock was sold at an average price of GBX 1,096 ($14.31), for a total value of £240,561.04 ($314,007.36).
National Grid plc Company Profile
National Grid plc is an electricity and gas utility company focused on transmission and distribution activities in electricity and gas in both the United Kingdom and the United States. The Company’s segments include UK Electricity Transmission, which is engaged in high voltage electricity transmission networks in Great Britain; UK Gas Transmission, which is the gas transmission network in Great Britain and United Kingdom liquefied natural gas (LNG) storage activities; UK Gas Distribution, which includes approximately four of the eight regional networks of Great Britain’s gas distribution system, and US Regulated, which includes gas distribution networks, electricity distribution networks and high voltage electricity transmission networks in New York, and New England and electricity generation facilities in New York.
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