Dominion price target lowered to $60 from $68 at Scotiabank

Scotiabank analyst Andrew Weisel lowered the firm’s price target on Dominion to $60 from $68 and keeps an Outperform rating on the shares. The analyst says the stock currently prices in both a reduction to earnings forecasts and a discounted valuation multiple, which the firm sees as “double-counting.” It expects outperformance once Dominion’s financial plan is solidified, but adds “it’ll be choppy.”