Citi initiated coverage of Southern Company with a Buy rating and $82 price target. The freeing up of management time post Vogtle will enable opportunity to reduce and capitalize costs, gain support for capex upside tied to new load related growth in service territory, and pursue opportunistic acquisitions, the analyst tells investors in a research note. The firm says Southern Company’s risks are declining on Vogtle, capital markets, regulatory, and more into 2024.
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