Dominion price target lowered to $53 from $71 at RBC Capital

RBC Capital analyst Shelby Tucker lowered the firm’s price target on Dominion to $53 from $71 and keeps a Sector Perform rating on the shares. Based on the company’s disclosed asset divestitures, Dominion should be able to reach a 16% FFO/debt bogey and produce $3.45 in estimated 2025 EPS while maintaining the current dividend, the analyst tells investors in a research note. RBC adds however that the stock’s ‘s discount could persist until the company completes any additional asset divestitures and until offshore wind execution risks are better bracketed given the recent challenges across the sector.