Dominion price target lowered to $63 from $69 at Guggenheim
The Fly

Dominion price target lowered to $63 from $69 at Guggenheim

Guggenheim analyst Shahriar Pourreza lowered the firm’s price target on Dominion to $63 from $69 and keeps a Buy rating on the shares after lawmakers reached a deal over the weekend on utility regulatory reform in Virginia. The bill prescribes a 9.7% base ROE through 2025, alongside many other important changes, said the firm, which views the deal as "welcome execution on a key stage of the strategic reset." Several of the more favorable components that underpinned the firm’s prior estimates did not ultimately make it into the final document, but certain aspects, such as a potential 50 basis points performance incentive, "were positive surprises" and the firm calls the deal "a sensible compromise."

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