Southern Company price target raised to $90 from $75 at Argus

Argus analyst Marie Ferguson raised the firm’s price target on Southern Company to $90 from $75 and keeps a Buy rating on the shares. The analyst cites the company’s recent Q1 earnings beat that was driven by revenue impacts in its electric utilities and an increase in data center revenues. Following delays and cost overruns, Southern’s Vogtle 3 became operational in July 2023 and Vogtle 4 became fully operational last month, Argus states, adding that it expects earnings to benefit from the reduction and potential credit for Vogtle construction losses as well as from the lower operating costs of the new nuclear plants.