Barclays raised the firm’s price target on Southern Company to $68 from $64 and keeps an Equal Weight rating on the shares. The analyst upgraded the U.S. Utilities sector to Positive from Neutral, getting more constructive into 2024. The backdrop of the sector being one of the worst performers in 2023, along with a declining cost of capital narrative, should allow for utilities to outperform in the first half of 2024, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on SO:
- Ameren, Exelon slide as Illinois Commerce Commission holds meeting
- Southern Company Executive Chairman Tom Fanning to retire Dec. 31
- Southern Company initiated with bullish view at Citi, here’s why
- Southern Company price target lowered to $73 from $76 at Mizuho
- Investors to react negatively to Illinois gas rate case rulings, says UBS