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National Grid upgraded by HSBC

13 July 2017 15:05

Equity research analysts at HSBC have upgraded their investment rating on electricity and gas utility company National Grid (LON:NG.) to buy from hold, stating that the company is likely to experience a "stay of regulatory execution".

The bank added: "We have a Buy rating on National Grid because it offers a 2018e yield of 4.9% combined with at least 5% regulatory asset growth per annum, with opportunities for further growth in the US, in our view."

Target tweaked to 1,060p per share (from 1,050p).

At 3:05pm: (LON:NG.) National Grid PLC share price was +3.9p at 934.9p

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