TD Cowen starts Dominion with a Hold amid recent setbacks

As previously reported, TD Cowen initiated coverage of Dominion (D) with a Hold rating and $65 price target While Dominion “should be a classic turnaround utility story,” recent setbacks may delay the recovery and offshore wind is turning into a headwind, the analyst tells investors. Dominion built Charybdis with the intention of deploying it beyond Coastal Virginia Offshore Wind, renting the Jones act-compliant vessel into a growing U.S. offshore wind market, but future demand for such a specialized asset is increasingly uncertain with the Trump administration halting new offshore wind development, the analyst added.