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Fly News Breaks for August 7, 2019
D
Aug 7, 2019 | 07:14 EDT
Morgan Stanley analyst Stephen Byrd resumed coverage of Dominion with an Equal Weight rating and $81 price target, citing his view that the stock reflects pessimism on two fronts. The first of those, fears about a low probability of success in completing its large Atlantic Coast Pipeline project, is warranted, Byrd contends. The second, namely pessimism about the quality of Dominion's gas infrastructure business, is unwarranted, as the "very high quality" of these assets is not adequately reflected in the stock, argues Byrd.
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