LONDON (ShareCast) - (Sharecast News) - Analysts at Berenberg downgraded National Grid from 'buy' to 'hold' on Thursday, stating the stock was 'high enough for now'.
Berenberg stated National Grid shares have had a great run, up over 30% since the end of September 2021, when the current energy price crisis started to build.

The German bank, which raised its price target on the stock from 1,100.0p to 1,210.0p, also noted that as the group has an "essential role" to play in the energy transition on both sides of the Atlantic, its downgrade was "certainly not" a signal to sell.

Berenberg said National Grid was a stock that it would "happily hold onto" for the long-term given the duration and importance of its expected role in the energy transition.

However, for the time being, the analysts said they would prefer to wait for a better buying opportunity, especially with alternative network plays like E.ON offering "better value".

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