Dominion price target lowered to $41 from $44 at BofA

BofA analyst Paul Zimbardo lowered the firm’s price target on Dominion to $41 from $44 and keeps an Underperform rating on the shares. Shares have rallied by about 7% off the lows after Q3 and are “firmly a consensus long with the pendulum fully swinging from bearish to bullish sentiment in our conversations,” says the firm, which is still cautious. The firm has “materially increased” its Virginia rate base growth well above management’s guidance, but forecasts below average roughly 4% long-term EPS growth from 2025-2028 with a constrained balance sheet dampening Virginia growth, the analyst tells investors.