Argus keeps a Buy rating and $75 price target on Southern Company while naming the stock as one of the firm’s 2024 Top Picks. The company’s earnings will benefit from the reduction and gradual elimination of Vogtle construction costs, as well as from the lower operating costs of the new nuclear plants, the analyst tells investors in a research note. Southern Company is also retiring coal-fired plants and increasing its use of renewables – a shift in the generation mix that regulators tend to view favorably, Argus added.
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