Mizuho analyst Anthony Crowdell raised the firm’s price target on Southern Company to $76 from $73 and keeps a Buy rating on the shares. The analyst expects the company to grow earnings between 5%-7% annually in the long-term, driven by rate base growth of 6% annually and electric sales growth of 1%-2% through 2025 before accelerating to 6% from 2025-2028. The firm believes the shares “could re-rate higher as investors look for safety, quality, and no wildfire risk.”
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