Oppenheimer Raises Price Target For Dominion Resources, Inc. (D)

Analysts Shelby Tucker and Andrew Uerkwitz at Oppenheimer have raised the price target for Dominion Resources, Inc. (NYSE: D) from $40 to $41. Analysts have also revised their FY10-FY13 EPS estimates for the company. The new estimates are $3.27, $3.26, $3.38, and $3.56 for FY10, FY11, FY12, and FY13, respectively.

According to analysts, declining power prices at the company’s unregulated generation are offsetting regulated growth, which will cause the earnings to remain flat in 2011. Analysts expect earnings from unregulated generation to bottom out in 2012, allowing for growth of 5.7% in 2013.

Analysts at Oppenheimer have maintained their Perform rating for Dominion Resources, Inc.