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Stifel upgrades 'M&A target' Gresham House Energy Storage to 'Positive'
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In a research note today (23 April), the broker said the trust's shares are «comfortably» trading below replacement cost, which could make it a corporate «M&A target», as would be the case for fellow battery storage trust Harmony Energy Income. GRID's shares fell 3.9% on 19 April, when the trust confirmed it would be suspending dividends for the remainder of 2024 to focus on repaying debt, according to data from Morningstar Direct. The trust is currently trading at a 67.8% discount to net asset value, according to the Association of Investment Companies. Gresham House Energy Storage s...
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