BMO Capital raised the firm’s price target on Southern Company to $76 from $74 and keeps an Outperform rating on the shares. If approved, the terms of the stipulation of Georgia Power’s IRP update could be modestly accretive to the current capital plan that underpins the visibility in the company’s 5%-7% EPS growth rate, the analyst tells investors in a research note. BMO adds that its higher price target reflects the mark-to-market of its peer group multiple.
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