Jefferies Downgrades Southern Co. (SO) to Hold

Jefferies analyst Julien Dumoulin-Smith downgraded Southern Co. (NYSE: SO) from Buy to Hold with a price target of $103.00 (from $114.00).

The analyst comments: "Today’s Georgia PSC election result creates a new governance dynamic for the state that contributes to uncertainty around the next comprehensive rate reset for Georgia Power (new base rates effective January 1, 2029) and the currently pending resource certifications. While SO’s multiyear capex and rate base growth remain compelling, we believe these strengths are now largely reflected in the stock’s P/E premium, and that the path to a higher long-term EPS base likely requires regulatory clarity that is harder to assert than it was pre-election. Our rating moves to HOLD, and our 12m PT is $103.00."

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 $92.73 yesterday.

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