UBS analyst Ross Fowler downgraded Dominion to Neutral from Buy with a price target of $73, down from $83. The company’s decision to conduct a ‘top-to-bottom’ review of the its strategy has created uncertainty for investors, which presents a material near-term overhang on the stock, the analyst tells investors in a research note. Fowler adds that while he continues to appreciate Dominion’s rate regulated growth story over the long term, he is concerned about regulated utility growth given ithe management’s comments about review of regulatory constructs and concerns around customer affordability.
Published first on TheFly
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