Berenberg Notes SSE's "Unprecedented" Growth Prospects Amid GBP33 Billion Investment Plan; Buy Rating Reiterated

06:35 AM EDT, 09/17/2026 (MT Newswires) -- Berenberg affirmed its buy rating for SSE (SSE.L), highlighting the British utility as its top sector pick over its "unprecedented, extended and highly visible" growth potential under its 2030 investment plan. "We see good reasons for confidence in the group's current GBP33bn (March) 2026A-30E investment plan (80% of which relates to networks) and for sustained elevated capex and regulated asset value (RAV) growth deep into the next decade (at least): 1) SSE's current electricity transmission (ET) investments are anchored by 11 major network-essential and government-backed projects, representing 75% of the total expenditure set out in Ofgem's 2026-31 RIIO-T3 regulatory framework; and 2) the National Energy System Operator (NESO) has already identified several potential critical post-2030 projects that could sustain higher capex well into the next decade," analysts said Thursday. Accordingly, the research firm updated its model for the British utility and raised its EPS forecasts by 4% for 2027, 4.5% for 2028, and 6.5% for 2029, alongside higher EBITDA and EBIT projections. Berenberg also increased the stock's price target to 29.80 pounds sterling from 28 pounds.