Guggenheim analyst Shahriar Pourreza lowered the firm’s price target on Southern Company to $77 from $79 and keeps a Buy rating on the shares. Utilities have been material underperformers year-to-date compared to the broad markets and most names within the group are trading at discounted valuation levels, the analyst tells investors. Despite the sector’s underperformance, the firm maintains a neutral stance on the group.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on SO: