Southern Co. (SO) Giving Back Gains as KeyBanc Downgrades Intraday
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Shares of Southern Company (NYSE: SO) have pared solid gains from this morning as a KeyBanc analyst has issued a mid-day downgrade on the stock. Just prior to the downgrade, shares of Southern Co. were trading around $330.07, up 1.3% from yesterday's close. As the news hit the wires, the stock dipped to as low as $32.61, down modestly for the session, but shares are now bouncing slightly.
KeyBanc moved its investment rating on Southern Company from Buy to Hold, saying that, given a reduction in the firm's FY10 EPS estimate, the stock now looks fairly valued. The firm moved its estimate from $2.45 to $2.35, which compares to the Street estimate of $2.32.
Visit our Analyst Ratings page to see all the market-moving analyst comments on shares of Southern Company.
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price?
huh on Oct 28, 2009 04:24 PM330.07?