UBS lowered the firm’s price target on Dominion to $57 from $60 and keeps a Neutral rating on the shares. Following passage of a comprehensive utility reform bill last month by the Virginia legislature, the parameters now appear set for the next phase of Dominion’s business review, the analyst tells investors in a research note. The firm thinks a blueprint is in place to ultimately fix many long- standing issues for the stock, but thinks think it could trade closer to a double-digit discount on its estimates given the uncertainty around execution risk.
Published first on TheFly
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