UPDATE: Jefferies Reiterates Buy Rating, Raises PT on Dominion Resources on Blue Racer MLP

In a report published Monday, Jefferies analyst Paul B. Fremont reiterated a Buy rating on

, and raised the price target from $67.50 to $68.00. In the report, Jefferies noted, “Jefferies believes that management could add $12.00 per share of value through the creation of a Blue Racer MLP and the subsequent drop down of its Cove Point LNG liquefaction plant. The company could also drop down Dominion Transmission assets which would increase EBITDA by roughly 70%.” Dominion Resources closed on Friday at $56.40.