Southern Co. (SO) PT Raised to $57 at Mizuho Securities
- Wall Street ends week positively; S&P 500, Dow hit record highs
- Bitcoin (BTC) Drops 3% as Turkey Bans Cryptocurrency Payments Citing Lack of Regulatory Supervision
- Morgan Stanley (MS) Archegos-Related Loss Appears to be $911M
- Dollar at 4-week low on retreating Treasury yields
- J&J (JNJ) Privately Asked Rival Covid-19 Vaccine Makers to Inspect Clotting Risks, AstraZeneca (AZN) Said Yes but Pfizer (PFE) and Moderna (MRNA) Declined - Report
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
Mizuho Securities analyst Paul Fremont raised the price target on Southern Co. (NYSE: SO) to $57.00 (from $52.00) while maintaining an Underperform rating.
The analyst commented, "Southern has targeted the second half of March for the start of hot functional testing (HFT) of Vogtle Unit 3. The lag in ITAAC approvals supports our belief that the company is still far behind in closing out its work packages and turning its systems over to ITP testing. With roughly 220 ITAAC approvals remaining, will the company risk starting HFT if, in fact, many of its systems are untested? We increase our 2021-23 estimates to reflect an update in our forecast model for 2020 actual results along with an update in the company’s forecast construction spending. We remain Underperform-rated on SO shares and raise our PT to $57 (previously $52) on updated group multiples."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Bayerische Motoren Werke AG (BMW:GR) (BMWYY) PT Raised to EUR108 at Goldman Sachs
- Mineral Resources Limited (MIN:AU) (MALRF) PT Lowered to AUD32 at Morgan Stanley
- Chr Hansen Holding A/S (CHR:DC) (CHYHY) PT Lowered to DKK610 at UBS
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!