Morgan Stanley analyst David Arcaro lowered the firm’s price target on Southern Company (SO) to $85 from $88 and keeps an Equal Weight rating on the shares. Utilities underperformed the S&P’s -0.91% return in October, leading the firm to adjust the price targets of several stocks in its North America Regulated & Diversified Utilities / IPPs coverage, the analyst tells investors. From recent meetings at the EEI Financial Conference, the firm came away incrementally negative on California, given its increased regulatory and political risk as well as its relatively limited data center growth.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on SO:
- Southern Power announces expansion of Millers Branch Solar Facility in Texas
- The Southern Company Reports Strong Q3 2024 Earnings
- Southern Company says ‘won’t be surprised’ if long-term sales growth goal raised
- Southern Company sees FY24 adjusted EPS $4.05, consensus $4.03
- Southern Company reports Q3 adjusted EPS $1.43, consensus $1.34
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
