Credit Suisse Group AG Reaffirms “Underperform” Rating for National Grid plc (NG)
National Grid plc (LON:NG)‘s stock had its “underperform” rating restated by equities research analysts at Credit Suisse Group AG in a research note issued to investors on Friday, MarketBeat reports. They presently have a GBX 850 ($11.10) price target on the stock. Credit Suisse Group AG’s target price indicates a potential downside of 10.90% from the company’s current price.
Several other analysts have also commented on the stock. Morgan Stanley dropped their price target on shares of National Grid plc from GBX 1,125 ($14.69) to GBX 1,100 ($14.36) and set an “overweight” rating on the stock in a research report on Tuesday. HSBC Holdings plc upgraded shares of National Grid plc to a “buy” rating and raised their price target for the company from GBX 1,050 ($13.71) to GBX 1,060 ($13.84) in a research report on Thursday, July 13th. Deutsche Bank AG restated a “sell” rating and set a GBX 950 ($12.41) price target on shares of National Grid plc in a research report on Sunday, July 9th. Goldman Sachs Group, Inc. (The) set a GBX 946 ($12.35) price target on shares of National Grid plc and gave the company a “sell” rating in a research report on Friday, June 30th. Finally, Citigroup Inc. set a GBX 1,126 ($14.70) target price on shares of National Grid plc and gave the company a “buy” rating in a research report on Tuesday, June 20th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of GBX 1,014.80 ($13.25).
Shares of National Grid plc (LON NG) traded down 0.16% on Friday, reaching GBX 954.00. 5,341,627 shares of the company traded hands. The company has a 50-day moving average of GBX 980.44 and a 200-day moving average of GBX 1,049.94. The stock’s market capitalization is GBX 32.83 billion. National Grid plc has a 1-year low of GBX 921.20 and a 1-year high of GBX 1,229.82.
In related news, insider Andrew R. J. Bonfield sold 22,191 shares of the business’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of GBX 1,021 ($13.33), for a total transaction of £226,570.11 ($295,860.68). Also, insider Dean Seavers purchased 4,574 shares of the stock in a transaction that occurred on Thursday, June 15th. The shares were acquired at an average price of GBX 1,020 ($13.32) per share, for a total transaction of £46,654.80 ($60,922.96). Insiders have purchased 4,616 shares of company stock worth $4,707,424 over the last 90 days.
About National Grid plc
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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