MARKET TALK: Goldman Nudges Down Northumbrian Water

17th Jun 2010 10:57

0957 GMT [Dow Jones] Goldman Sachs nudges down Northumbrian Water Group (NWG.LN) price target by just a tad, to 266p from 268p, largely reflecting an increase in mark-to-market value of its debt. Estimates that Northumbrian is trading at a 7% premium to March '11E regulatory asset base, the highest of the listed water companies. Says with absolute downside to the target price of 9%, keeps the stock at sell relative to the wider European utilities universe, where Goldman sees potential upside of more than 30%. Shares -0.3% at 307p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 17, 2010 05:57 ET (09:57 GMT)