RBC downgrades Gore Street Energy to 'underperform'; shares down

Shares of UK's Gore Street Energy Storage Fund PLC GSF.L down ~1.5 % at 66.1p

RBC Capital Markets downgrades stock to 'underperform' from 'sector perform'

Brokerage says co is under pressure in ERCOT (Electric Reliability Council of Texas); too many battery projects are reducing profits, so actual performance is below expectations based on net asset value

In Ireland, revenue is at risk as the DS3 (Delivering a Secure, Sustainable Electricity System) support scheme will end within 24 months, adds RBC

"We think a UK firm is the most probable buyer, and hence would have less strategic demand for GSF's geographically diverse portfolio" says brokerage

Average rating of 4 analysts is "hold"; median PT is 77p— Data compiled by LSEG

As of last close, stock had risen ~40% YTD