---
title: "研究警報：CFRA 維持對英國國家電網的買入評級"
type: "News"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/286396310.md"
description: "CFRA 對英國國家電網公司（National Grid Plc，股票代碼：NGG）維持買入評級，將 12 個月目標價從 100 美元上調至 101 美元，基於 2027 財年的市盈率為 16.9 倍。2027 財年的每股收益（EPADS）修正為 4.45 英鎊，同時 2028 財年的每股收益（EPADS）首次引入為 4.80 英鎊。2026 財年的基礎營業利潤增長 6%，達到 57 億英鎊，按固定匯率計算每股收益增長 8%。國家電網的目標是實現 10% 的資產年均增長率和 8%-10% 的基礎每股收益年均增長率，得益於到 2031 財年 70 億英鎊的投資承諾。RIIO-T3 的批准被視為盈利透明度的關鍵"
datetime: "2026-05-14T10:00:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286396310.md)
  - [en](https://longbridge.com/en/news/286396310.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286396310.md)
---

# 研究警報：CFRA 維持對英國國家電網的買入評級

06:00 AM EDT, 05/14/2026 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We revised our 12-month target price for National Grid ( NGG ) to USD101 (from USD100), based on a FY 27 (Mar.) P/E of 16.9x, above its five-year forward P/E average of 14.8x, justified in our view by its earnings growth from increased grid investments. We revised our FY 27 EPADS to GBP4.45 (from GBP4.15), justified in our view by increased earnings growth from accelerated investments. We introduce our FY 28 EPADS at GBP4.80. NG's FY 26 underlying operating profit grew 6% Y/Y to GBP5.7 bln, owing to strong operational performance across regulated businesses. Underlying EPS rose 8% at constant currency to GBP0.78, establishing a strong baseline for its upgraded five-year financial framework. Looking ahead, NG extended its five-year financial framework to FY 31 with an upgraded investment commitment of at least GBP70 bln. The company targets 10% asset growth CAGR and 8%-10% underlying EPS CAGR. We think the secured regulatory momentum with RIIO-T3 approval is crucial for earnings transparency. Maintain Buy.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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