National Grid's Half-Year Performance Steady as Investors' Focus Turns to 2018-19
We are reaffirming our GBX 990 per share and $66 per ADR share fair value estimates for National Grid after the company reported first-half fiscal 2018 adjusted earnings of GBX 18.50 per share. This is on track to meet our full-year estimate and in line with management's full-year outlook.We expect developments in 2018-19 will be critical for Grid's medium-term earnings growth potential. In the U.S., we expect resolution of rate activity at Niagara Mohawk in the coming months to set rates begin...
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