Evercore ISI lowered the firm’s price target on Southern Company to $65 from $69 and keeps an In Line rating on the shares. Given the year-to-date underperformance, the firm is more constructive on the Power & Utilities group and likes the risk/reward into 2024 and long term. However, in the near-term, fundamentals remain challenging and regulatory risks have been rising throughout the year so the firm prefers to stay on the sidelines and look for these headwinds to abate, the analyst tells investors in a preview note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on SO:
- Southern Company announces quarterly dividend
- Southern Company upgraded to Outperform from Sector Perform at Scotiabank
- Southern Company price target lowered to $72 from $80 at Guggenheim
- Southern Company price target lowered to $64 from $68 at Barclays
- Southern Power acquires South Cheyenne Solar Facility