Is National Grid Stock Oversold? 1 Analyst Thinks So

Every day, Wall Street analysts upgrade some stocks, downgrade others, and "initiate coverage" on a few more. But do these analysts even know what they're talking about? Today, we're taking one high-profile Wall Street pick and putting it under the microscope...

National Grid (NYSE: NGG) stock is in a rut. Down 20% over the past year, as the S&P 500 has surged ahead 14%, National Grid is underperforming the broader market by a whopping 34 percentage points. And yet, German investment banker Berenberg sees opportunity in National Grid's weakness. These shares, says Berenberg, have fallen too far, and Berenberg believes they should be bought.

Here are three reasons why.

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Source: Fool.com