Raymond James initiated coverage of Southern Company (SO) with an Outperform rating and $98 price target The firm views the recent Georgia ARP rate freeze settlement as the pivotal development in this story, as it eliminates the risk of a prolonged overhang, provides a manageable outcome for Southern Company at a time when it can absorb a rate freeze, and strengthens goodwill with both regulators and ratepayers, the analyst tells investors in a research note.
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