Jefferies Downgrades Southern Co. (SO) to Hold
Get Alerts SO Hot Sheet
Price: $73.91 --0%
Rating Summary:
12 Buy, 11 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 8 | New: 5
Rating Summary:
12 Buy, 11 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 8 | New: 5
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Jefferies downgraded Southern Co. (NYSE: SO) from Buy to Hold with a price target of $46.00 (from $53.50) on regulatory overhang.
Analyst Paul Fremont comments, "With the current investor focus over lower ROEs and cost over-runs at the Kemper County IGCC plant, Jefferies believes that the stock will continue to trade at a group average P/E multiple versus its historical 5-15% premium. Our upgrade was predicated on trading SO at a premium multiple, so we have revised our price target to reflect our updated views and believe the stock is fair value at current levels."
For an analyst ratings summary and ratings history on Southern Co. click here. For more ratings news on Southern Co. click here.
Shares of Southern Co. closed at $44.65 yesterday.
Analyst Paul Fremont comments, "With the current investor focus over lower ROEs and cost over-runs at the Kemper County IGCC plant, Jefferies believes that the stock will continue to trade at a group average P/E multiple versus its historical 5-15% premium. Our upgrade was predicated on trading SO at a premium multiple, so we have revised our price target to reflect our updated views and believe the stock is fair value at current levels."
For an analyst ratings summary and ratings history on Southern Co. click here. For more ratings news on Southern Co. click here.
Shares of Southern Co. closed at $44.65 yesterday.
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