The Fly

Dominion upgraded to Neutral from Sell at Goldman Sachs

Goldman Sachs analyst Michael Lapides upgraded Dominion to Neutral from Sell with a price target of $69, down from $72. Over the past few months, but especially after Q3 earnings, Dominion Energy’s shares sharply lagged the utilities sector index, by more than 19% year-to-date, the analyst notes. Lapides acknowledges that regulatory risk does remain but Dominion’s actions in the past 2 years may mitigate much of this now, albeit creating a bit of a balance sheet headwind in the near-term.

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