Dominion price target lowered to $52 from $57 at Guggenheim

Guggenheim analyst Shahriar Pourreza lowered the firm’s price target on Dominion to $52 from $57 and keeps a Buy rating on the shares. Dominion has “emerged from its strategic review as a fundamentally reformed 5-7% growth story,” contends the analyst, who sees this “presenting investors with a fresh entry point into a straightforward and attractive Southeastern rate base and sales-growth story.” Dominion should benefit from incremental money flowing into the sector when utilities, as a sector, come back in favor by the second half of this year as the rate environment becomes more visible, the analyst added.