Evercore ISI analyst Nicholas Amicucci initiated coverage of Southern Company (SO) with an In Line rating and $103 price target The firm is bullish on Southern’s growth potential especially given the better-than-expected regulatory outcomes in Georgia, but its multiple expansion potential relative to its large regulated peers keeps Evercore “at bay for the time being”, the analyst tells investors in a research note. The firm still sees the stock as a “core foundational utility holding” for any utility investor given the potential for incremental additions to the company’s already enhanced capital plan resulting from its favorable regulatory environment as well as its prudent and strategic economic development program, Evercore added.
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