Market Overview

UPDATE: Deutsche Bank Raises PT on Dominion Resources on Reasons for Caution

Share:

In a report published Wednesday, Deutsche Bank analyst Jonathan Arnold reiterated a Hold rating on Dominion Resources (NYSE: D), and raised the price target from $64.00 to $66.00.

In the report, Deutsche Bank noted, “With utilities set to finish the year last among sectors for the second straight year, it is surely tempting to argue for a rebound in 2014. But with the Fed exit still in front of us and a continuing overhang from challenging power business fundamentals, investors have plenty of reason to proceed with caution. Compared to April when Fed taper talk began, utilities are at least much better relative value (P/E parity vs. ~20% premium) and closer to their lows in terms of mutual fund positioning. A market growth stall might be utilities' best hope for a winning 2014; in the meantime, we continue to counsel selectivity, mostly favoring better growth or value catalysts over pure defensiveness and yield.”

Dominion Resources closed on Tuesday at $63.50.

Latest Ratings for D

DateFirmActionFromTo
Jan 2021KeyBancUpgradesSector WeightOverweight
Dec 2020Credit SuisseUpgradesNeutralOutperform
Dec 2020B of A SecuritiesUpgradesNeutralBuy

View More Analyst Ratings for D
View the Latest Analyst Ratings

 

Related Articles (D)

View Comments and Join the Discussion!

Posted-In: Deutsche Bank Jonathan ArnoldAnalyst Color Price Target Analyst Ratings

Latest Ratings

StockFirmActionPT
URIVertical ResearchInitiates Coverage On310.0
PCARVertical ResearchInitiates Coverage On95.0
DEVertical ResearchInitiates Coverage On345.0
CNHIVertical ResearchInitiates Coverage On16.0
AGCOVertical ResearchInitiates Coverage On119.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com