BMO Capital upgraded Southern Company to Outperform from Market Perform with a price target of $77, up from $72. The firm sees the company as positively levered to key themes that it expects to drive relative performance in 2024, including a heightened focus on regulatory health, balance sheet strength and execution. The analyst still sees “relative valuation headroom” as BMO believes Southern’s profile justifies one of the highest premiums in the group.
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