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Upgrade Alert for National Grid (NGG)

By James Quinn

National Grid (NYSE:NGG) was upgraded from Neutral to Overweight at JP Morgan today. The stock closed yesterday at $72.54 on volume of 759,000 shares, above average daily volume of 443,000.

National Grid PLC owns, operates and develops electricity and gas networks. The Group's electricity transmission and gas distribution networks are located throughout the United Kingdom and in the north-eastern section of the United States. They also own liquefied natural gas storage facilities in Britain and provide infrastructure services to the mobile telecom industry.

National Grid (NYSE:NGG) has potential upside of 1.0% based on a current price of $72.54 and analysts' consensus price target of $73.27. National Grid shares have support at the 50-day moving average (MA) of $70.33 and additional support at the 200-day MA of $69.11.

In the past 52 weeks, shares of National Grid have traded between a low of $63.75 and a high of $73.10 and closed yesterday at $72.54, which is 14% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has remained constant.

SmarTrend is monitoring the recent change of momentum in National Grid. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of National Grid in search of a potential trend change.

Keywords: analyst upgrades/downgrades national grid

Ticker(s): NGG