MARKET TALK: Deutsche Bank Cuts National Grid Price Target

2nd Aug 2010 09:58

0858 GMT [Dow Jones] Deutsche Bank cuts National Grid (NG.LN) target to 620p from 815p following the completion of its rights issue. Sees 20% upside. Says the completion of the issue leaves National Grid with an attractive yield and the funds to accelerate growth of its UK energy network. Says the 7.7% prospective '12E dividend yield looks sustainable and is one third higher than the sector average. Keeps buy recommendation. Shares are +1.6% at 517p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires August 02, 2010 04:58 ET (08:58 GMT)

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