Dominion Resources Upgraded to “Buy” at Deutsche Bank (D)

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Energy producer and transporter Dominion Resources, Inc. ( D ) on Friday saw its rating and price target boosted by analysts at Deutsche Bank.

The firm said it upgraded Dominion from "Hold" to "Buy" while raising its price target from $42 to $46.50. That new target suggests a 9% upside to the stock's Thursday closing price of $42.61.

A Deutsche Bank analyst commented, "We are upgrading D to Buy from Hold, based on D's strong regulated growth plans and its execution track record as well as an attractive New England merchant generation fleet. We expect the merchant segment's earnings to be relatively flat in 2012 versus 2011 and turn upward in 2013, removing a drag on strong regulated earnings growth. We view D's 5%-6% EPS growth target starting in 2012 as achievable, with upside in the event of stronger improvement at merchant gen or the realization of additional regulated growth."

Dominion Resources shares were mostly flat in premarket trading Friday.

The Bottom Line
We have been recommending shares of Dominion Resources ( D ) since Dec.2, 2009, when the stock was trading at $37.18. The company has a 4.29% dividend yield, based on last night's closing stock price of $42.61.

Dominion Resources, Inc. ( D ) is a "Recommended" dividend stock, holding a DARS™ Rating of 3.5 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Stocks

Referenced Stocks: D

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