Jefferies Maintains a 'Hold' on Southern Co. (SO); 3Q EPS of $1.07 Beats Expectations; Adjusting Estimates

Jefferies maintains a 'Hold' on Southern Co. (NYSE: SO) price target raised from $41 to $42.50.

Jefferies analyst says, "Southern Company reported third-quarter earnings of $1.07 per share, beating our estimate and consensus of $1.04 and above guidance of $1.02. The company indicated it expects to earn at the high end of its 2011 guidance range of $2.48-$2.56."

"We are increasing our 2011 EPS estimate by $0.02 to $2.58. Our estimate is above the company's reaffirmed guidance range of $2.48-$2.56. Southern provided 4Q earnings guidance of $0.29...We are fine-tuning our 2012 and 2013 EPS estimates by $0.01 to $2.70 and $2.83, respectively. We are maintaining our 2014 EPS estimate of $2.93."

For more ratings news on Southern Co. click here and for the rating history of Southern Co. click here.

Shares of Southern Co. closed at $43.12 yesterday.

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