UPDATE: ISI Group Downgrades Dominion Resources to Neutral, Reiterates $54 PT

In a report published Monday, ISI Group downgraded its rating on Dominion Resources

from Buy to Neutral, and reiterated its $54.00 price target. ISI Group noted, “In conjunction with ISI's adoption of a standard ratings system for stocks, we are downgrading shares of Dominion Resources from Buy to Neutral. Our target price and earnings estimates are unchanged. Our fundamental view on the stock remains intact, but the stock has appreciated very close to our target price since we upgraded the shares on 11/8/12 and the risk/reward profile under our new rating system warrants a neutral rating at the current valuation.” Dominion Resources closed on Friday at $53.54.