Dominion price target lowered to $40 from $41 at BofA

BofA lowered the firm’s price target on Dominion to $40 from $41 and keeps an Underperform rating on the shares. The firm believes the stock is a consensus long from its investor conversations, as generalists have been attracted to the Virginia data center angle. However, the firm thinks they do not appreciate that the other 20% of Dominion’s earnings are flat/down. Dominion scheduled its Q4 call on February 22, “the latest 4Q call in 20+ years for the company,” notes the firm, which adds that a lack of business review conclusion by then “would be a disappointment” given the business review and anticipated reset has been pending for nearly 15 months.