Market Overview

Credit Suisse Upgrades Dominion Energy On Valuation

Share:
Credit Suisse Upgrades Dominion Energy On Valuation

Dominion Energy Inc (NYSE: D) undertook a number of positive strategic steps this year to significantly reduce its operating and financial risk, according to Credit Suisse.

The Dominion Energy Analyst: Michael Weinstein upgraded Dominion Energy to Outperform, while keeping the price target unchanged at $83.

The Dominion Energy Thesis: Following its strategic initiatives, the company now has a “simplified large-cap regulated growth story for the next decade driven by nearly $8B of regulated offshore wind, additional land-based renewables, transportation electrification, and strong customer and datacenter growth in Virginia,” Weinstein said in the note.

Management has guided to more than 10% growth in earnings per share for 2021, supported by $3.1 billion of share buybacks, and projects over 6.5% earnings growth for 2022 and beyond.

The analyst said Dominion Energy’s current share price offers a “compelling entry point,” while adding that there is “14% total return potential over the next 12 months” at the company’s current pricing.

D Price Action: Shares of Dominion Energy had risen by 1.3% to $76.27 at the time of publication Thursday.

Latest Ratings for D

DateFirmActionFromTo
Feb 2021Credit SuisseMaintainsOutperform
Jan 2021Wells FargoUpgradesEqual-WeightOverweight
Jan 2021Evercore ISI GroupUpgradesIn-LineOutperform

View More Analyst Ratings for D
View the Latest Analyst Ratings

 

Related Articles (D)

View Comments and Join the Discussion!

Posted-In: Credit Suisse Michael WeinsteinAnalyst Color Upgrades Analyst Ratings

Latest Ratings

StockFirmActionPT
VIACNeedhamMaintains80.0
VCELSVB LeerinkMaintains60.0
INGNSVB LeerinkMaintains54.0
TRHCSVB LeerinkMaintains43.0
RGENSVB LeerinkMaintains250.0
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.
SPAC
Everything you need to know about the latest SPAC news.
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