BMO Capital analyst James Thalacker lowered the firm’s price target on Dominion to $59 from $63 but keeps an Outperform rating on the shares. The stock is expected to be weaker given the lower weather-related performance and investors trying to read through if there are any implications for 2023 earnings on trailing-12-month basis after the company cut its Q2 guidance, the analyst tells investors in a research note. Other Southeastern utilities may also trade relatively weaker on the weather readthrough after a very tough Q1 comp for Dominion, BMO added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on D:
- Dominion price target lowered to $55 from $61 at Wells Fargo
- Dominion cuts Q2 EPS view to 44c-50c from 58c-68c, consensus 64c
- Street Wrap: Today’s Top 15 Upgrades, Downgrades, Initiations
- Ex-Dividend Date Nearing for These 10 Stocks – Week of May 29, 2023
- Dominion Energy Declares Quarterly Dividend of 66.75 Cents