UBS keeps Sell target for National Grid stock at GBp 1,110

Published on 10/23/2026 at 09:41 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

National Grid expects earnings growth above 13 to 15 percent. National Grid stock costs EUR 14.62 on October 23, 2026 versus its Xetra close of EUR 14.60.

Analyst view and earnings outlook

UBS maintained a Sell rating and set a GBp 1,110 target on October 20, 2026.
National Grid expects fiscal 2027 earnings growth above 13 to 15 percent.
National Grid stock trades at EUR 14.62 at 9:34 a.m. CEST at Lang & Schwarz on October 23, 2026, 0.14 percent above the Xetra close of October 22, 2026.

Schwarzweiß-Dokumentarfoto eines Umspannwerks mit Transformatoren und Masten — Umspannwerk-Infrastruktur zeigt Kerngeschäft von National Grid plc, ISIN GB00BDR05C01, im britischen Energienetz-Sektor, Illustration mit AI erstellt.

UBS maintained a Sell rating on National Grid and set a GBp 1,110 price target on October 20, 2026, according to Markets Insider. National Grid stock was trading at EUR 14.62 at Lang & Schwarz on October 23, 2026, 0.14 percent above the Xetra close of October 22, 2026.

UBS highlights valuation pressure

UBS analyst Mark Freshney kept the Sell view while setting the GBp 1,110 target. The same report cited a Hold consensus and an average target of GBp 1,296.75, but those figures are separate from UBS's own assessment.

Citi also maintained a Hold rating with a GBp 1,175 target on October 19, 2026, according to Markets Insider. The spread between the two targets shows how analyst views differ even as the company approaches its half-year report.

What does the outlook mean for earnings?

National Grid said on October 5, 2026, that fiscal 2027 earnings per share growth should be slightly above its prior 13 to 15 percent guidance. The company attributed the improvement to National Grid Ventures and stronger interconnector performance, while regulated businesses remained in line with expectations, according to Investor Meet Company.

The update covered the six months ended September 30, 2026, and said underlying earnings per share would remain weighted toward the second half. National Grid also said first-half operating profit from its Ventures and Other activities would benefit from one-off fair-value gains, while closing half-year net debt was expected to remain broadly in line with full-year guidance.

Three dates frame the stock

On October 5, 2026, National Grid lifted its fiscal 2027 earnings growth outlook above 13 to 15 percent. On October 19, 2026, Citi maintained a Hold rating with a GBp 1,175 target. On October 20, 2026, UBS maintained a Sell rating with a GBp 1,110 target.

Next results date

National Grid's next substantiated event is its half-year results announcement on November 5, 2026, covering the six months ended September 30, 2026. For investors, the key test will be whether the one-off contribution from Ventures is matched by underlying performance in the regulated networks.

Stock price and operating base

National Grid's latest full-year investor highlights show underlying operating profit of GBP 5,680 million in fiscal year 2026, up 8.8 percent from GBP 5,221 million in fiscal year 2025. Capital investment reached GBP 11,576 million in fiscal year 2026, up 21.3 percent from GBP 9,542 million in fiscal year 2025, according to National Grid.

National Grid is listed on the London Stock Exchange under ticker NG and operates electricity and gas transmission and distribution networks in the United Kingdom and the United States. The London listing closed at GBp 1,224.00 on October 22, 2026, while the German euro indication remained close to EUR 14.60.

The further course of trading is shown by the continuously updated real-time quote of National Grid stock.