KeyBanc downgraded Southern Company to Underweight from Sector Weight with a $78 price target Following a volatile Q1, the reporting season “proved fairly uneventful” for the utilities. The firm says that as large-load customer demand trends appear intact, and the risk for tariffs and Inflation Reduction Act is “book-ended,” it envisions the return of greater risk appetite in the space. As a result, KeyBanc made a number of rating changes to reflect its views. It downgraded Exelon (EXC), Consolidated Edison (ED), and Southern Co. (SO) to Underweight on valuation, downgraded Portland General Electric (POR) to Sector Weight due to jurisdictional headwinds, and upgraded Entergy (ETR) and Ameren (AEE) to Overweight citing their attractive growth stories in the space.
Protect Your Portfolio Against Market Uncertainty
- Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter.
- Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SO:
- Southern Co’s Growth Potential Bolstered by Regulatory Certainty and Strategic Energy Expansion
- Southern Company price target raised to $99 from $95 at Wells Fargo
- The Southern Company Reports Strong Q1 2025 Earnings
- Southern Company Reports Record EPS and Positive Outlook
- Southern Company sees long-term projected adjusted EPS growth 5%-7%