Deutsche Bank Downgrades Dominion Resources, Inc. (D) to Hold; Calling Time After Strong Performance

Deutsche Bank downgraded Dominion Resources, Inc. (NYSE: D) from Buy to Hold. PT to $48.50 from $46.50.

Deutsche analyst says, "we believe D’s strong regulated growth outlook and constructive regulatory framework are now mostly priced in. We continue to view D as a high quality utility with significant and relatively low risk regulated growth opportunities, as well as an attractively positioned New England merchant generation fleet. We now believe D has a more balanced risk/reward based on 2011 guidance and D’s future growth targets (our estimates are near the midpoint of these ranges) and believe D would need to drive earnings to the high end of these ranges (implying 2013 earnings power of ~$3.70 versus our $3.45 estimate) for there to be significant upside to D’s current stock price based on our valuation methodology."

For more ratings news on Dominion Resources, Inc. click here and for the rating history of Dominion Resources, Inc. click here.

Shares of Dominion Resources, Inc. closed at $47.66 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Pro Diversity Network (IPDN) Reports Q2 Loss of $0.15
• Diana Shipping withdraws bid to acquire Genco Shipping