Dominion price target lowered to $49 from $50 at Scotiabank

Scotiabank lowered the firm’s price target on Dominion to $49 from $50 and keeps a Sector Perform rating on the shares. Management executed a thorough business simplification effort, which results in a higher-quality earnings mix and stronger balance sheet, but EPS growth outlook is slightly lower than anticipated, the analyst tells investors. Scotiabank notes that there is still an upside of approximately 15%, so the firm sees attractive value in the stock, but continues to see better opportunities elsewhere.