![\"Goldman](\"https:\/\/www.europesays.com\/britain\/wp-content\/uploads\/2026\/05\/7deffbe73ce9486f7042e7c9b94b8a4a.jpeg\")
Goldman Sachs cuts National Grid and SSE to neutral as AI power boom thesis plays out Proactive uses images sourced from Shutterstock <\/p>\n Goldman Sachs cuts National Grid and SSE to neutral as AI power boom thesis plays out Proactive uses images sourced from Shutterstock <\/p>\n
Goldman Sachs has downgraded both National Grid PLC (LSE:NG.)<\/a> and SSE PLC (LSE:SSE)<\/a>\u00a0from ‘buy’ to ‘neutral’, citing share price gains that have eroded the upside case, even as the bank raised its assumptions for European power demand on the back of surging appetite for electricity from artificial intelligence infrastructure.<\/p>\n The bank said concerns that had previously weighed on the stocks, including funding pressures and the prospect of zonal electricity pricing in SSE’s case, have largely eased, and that both companies continue to offer strong growth and earnings visibility.<\/p>\n Goldman set a price target of 1,389p on National Grid, implying upside of around 13%, and 2,812p on SSE, implying around 9%.<\/p>\n The downgrades accompanied a broader research note in which Goldman argued that markets continue to underestimate the energy demands of artificial intelligence, particularly as so-called agentic AI systems, which operate with greater autonomy and require sustained computational power, become more widespread.<\/p>\n The bank said it had upgraded its European power demand assumptions accordingly and raised target price-to-earnings valuations across the sector to reflect the more bullish long-term outlook.<\/p>\n","protected":false},"excerpt":{"rendered":"Goldman Sachs cuts National Grid and SSE to neutral as AI power boom thesis plays out Proactive uses…\n","protected":false},"author":2,"featured_media":45053,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[21249],"tags":[22823,12770,2580,22584],"class_list":["post-45052","post","type-post","status-publish","format-standard","has-post-thumbnail","category-national-grid","tag-european-power-demand","tag-goldman-sachs","tag-national-grid","tag-sse-plc"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@UnitedKingdom\/116615931692293495","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/45052","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/comments?post=45052"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/45052\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media\/45053"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media?parent=45052"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/categories?post=45052"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/tags?post=45052"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}