Southern Co. (SO) PT Lowered to $57 at Mizuho Securities

June 25, 2021 7:44 AM EDT
Get Alerts SO Hot Sheet
Price: $64.54 +1.27%

Rating Summary:
    12 Buy, 8 Hold, 5 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 27 | New: 42
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Mizuho Securities analyst Paul Fremont lowered the price target on Southern Co. (NYSE: SO) to $57.00 (from $59.00) while maintaining an Underperform rating.

The analyst commented, "According to Staff, the deficiency of Bechtel’s quality control programs is a key concern of both Southern Nuclear and the NRC. Southern’s own root cause analysis concluded that a motivation to credit construction hours as “earned” drove supervisors to turnover work to ITP for testing without first correcting for deficiencies in the work. Staff is concerned that this may result in the NRC expanding the scope of its review. We reiterate our Underperform rating on SO shares and update our PT to $57 (previously $59) to account for current market multiples."

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