NGG Price Prediction Next Week
Based on the provided news and data, here's the analysis for NGG's price prediction for next week:
Technical Analysis
The stock shows a bearish trend in recent trading sessions, with key technical indicators suggesting continued downward pressure.
News Impact Analysis Recent significant news events affecting NGG:
- National Grid has agreed to sell its U.S. onshore renewable business to Brookfield Asset Management for $1.735 billion
- The deal is expected to close by March 31, 2026, subject to regulatory approvals
- The stock initially rose 1.6% on this news announcement
- The sale is part of a broader £6.8 billion capital raise program for power infrastructure investments
Price Prediction Based on technical analysis and news sentiment:
- Support level: $62-63
- Resistance level: $65-66
- Expected trading range: $61-67
Target Price for Next Week: $63.50
Trading Recommendation: SELL
- The stock is likely to face downward pressure due to:
- Recent asset sale announcement creating uncertainty
- Current bearish technical indicators
- Overall market sentiment affected by new trade tensions
The stock may see temporary support from the positive reception of the asset sale, but the broader market headwinds and technical indicators suggest a continued downward trend in the near term.
NGG Similar Chart Price Prediction
The price of NGG is predicted to go up 2.42%, based on the high correlation periods with SLRC. The similarity of these two price pattern on the periods is 90.08%.
NGG
SLRC
Up: 2.42%Similarity: 90.08%
NGG Revenue Forecast
NGG EPS Forecast
NGG FAQs
What is bull’s view on NGG?
What is bear's view on NGG?
NGG VS S&P500
The sale of Grain LNG, renewables assets, and ESO should command high multiples.
Allowed returns should be increased under the RII0-T3 regulatory period starting in April 2026 due to high interest rates.
The new 5-year strategic plan gives visibility on earnings and dividends.
NGG Analyst's Forecast
Jenny Ping
Citigroup
Strong Buy → Hold
2024-10-03
Price Target
n/a
Downside
0%
Citi downgraded National Grid to Neutral from Buy with a price target of 1,050 GBp, up from 985 GBp. The firm continues to like National Grid's earnings growth profile in a sector relative context, which is largely underpinned by continued investments that have political and regulatory support. However, the firm finds the stock fairly valued following the recent rally. It sees better value at other regulated names in the sector such as E.On or Redeia.
