Analysts raise price target to $76 from $65, citing valuation appeal ahead of the NextEra takeover approval.
Dominion Energy (D) climbed 1.1% after Jefferies upgraded its rating to Buy from Hold and increased the price target to $76 from $65. The move reflects expectations that the NextEra (NEE) acquisition will receive regulatory approval, offering a discounted entry point for investors.
Prior to the upgrade, Dominion had traded near $65, aligning with Jefferies’ earlier target. The new $76 target suggests a potential 17% upside from recent levels, driven by merger-related optimism.
Shares reacted positively in Thursday’s session, reflecting investor confidence in the deal’s prospects and the stock’s valuation.