Deutsche Bank upgraded Southern Co. (NYSE: SO) from Hold to Buy with a price target of $52.00 (from $50.00).

Analyst Jonathan Arnold believes the stock offers an attractive risk/reward despite the lingering complicated story related to two mega-projects, Kemper and Vogtle. He notes that the upgrade is prompted by SCANA Corp. (NYSE: SCG) news on Monday related to nuclear abandonment. He further notes that downside scenarios attached to Vogtle appear priced in.

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 $47.93 yesterday.