06:00 AM EST, 11/06/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:
We lift our 12-month target price for National Grid ( NGG ) to USD78 (from USD73), based on FY 26 (Mar.) P/E of 17.9x, above its five-year forward P/E average of 15.2x, justified in our view by its earnings growth from increased grid investments. NG's H1 FY 26 underlying operating profit +12% Y/Y to GBP2.3 bln, owing to strong results across its regulated businesses. In terms of segmental performance, U.K. operations showed mixed results, while U.S. regulated businesses demonstrated robust performance. With strong earnings, NG expects its underlying EPS of GBP0.298 (+6% Y/Y) supporting the 6%-8% CAGR target. NG expects FY 26 guidance to be modestly higher, reflecting stronger underlying performance partially offset by exchange rate headwinds. We think these investments are aligned with our view that electricity infrastructure plays an important role in net zero, while NG's highly regulated business model, which is shielded against price and volume risk, could also support its defensive profile. Maintain Hold.