UPDATE: KeyBanc Downgrades Southern Co. (SO) to Sector Weight

April 7, 2022 3:39 AM EDT
Get Alerts SO Hot Sheet
Price: $70.62 --0%

Rating Summary:
    8 Buy, 12 Hold, 4 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 10 | Down: 21 | New: 51
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(Updated - April 7, 2022 4:03 AM EDT)

KeyBanc analyst Sophie Karp downgraded Southern Co. (NYSE: SO) from Overweight to Sector Weight.

The analyst comments "We are downgrading SO from Overweight to Sector Weight. SO shares are now trading ahead of our price target and roughly in line with the large-cap regulated utility average multiple. 2H21 is expected to be a busy one for SO as it works on completing Vogtle Unit 3, files a GRC by mid-year, and works through the proceedings in the ongoing IRP. Additionally, GA is probably the state to pay the closest attention to in the November mid-terms with the Governor, Senate, and two GA PUC Commissioner races on the ballot. Given the number of moving parts, both company-specific and state-wide, we prefer to move to Sector Weight for now."

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 $76.51 yesterday.

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