Dominion downgraded to Sector Perform from Outperform at Scotiabank

Scotiabank analyst Andrew Weisel downgraded Dominion to Sector Perform from Outperform with a price target of $46, down from $56, citing concerns that incremental asset sales will be increasingly difficult in today’s higher interest rate environment. While the firm continues to see Dominion’s “heavily-discounted” valuation as attractive, it no longer expects positive financial updates in the near-term and has concerns about equity needs at a time when the stock valuation is “highly depressed.”