Will This Price Target Increase Help Dominion Resources (D) Stock Today?

Story updated at 9:50 a.m. to reflect market activity.

NEW YORK (TheStreet) -- Credit Suisse (CS) raised its price target for Dominion Resources (D) to $78 from $76 Thursday, reiterating its "outperform" rating.

Shares of Dominion gained 0.1% to $69.97 in morning trading.

The analyst firm raised its EPS estimates for the company through 2016. Credit Suisse analysts expect Dominion to report earnings of $3.88 a share for 2015, up from previous estimates of $3.83 a share. For 2016 the analysts expect the company to report earnings of $4.02 a share, up from $3.96 a share.

Dominion is investing more to drive higher returns down the road, according to Credit Suisse analysts. The company "remains one of our favorite regulated names with a good calendar of datapoints," analysts Dan Eggers, Matthew Davis, and Thomas Murray wrote.

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Separately, TheStreet Ratings team rates DOMINION RESOURCES INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate DOMINION RESOURCES INC (D) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its expanding profit margins, notable return on equity and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income."

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