Southern Company price target raised to $105 from $99 at RBC Capital

RBC Capital analyst Stephen D’Ambrisi raised the firm’s price target on Southern Company (SO) to $105 from $99 and keeps a Sector Perform rating on the shares as part of a broader research note previewing Q4 earnings in Utilities. As has been the trend across the space over the last 18 months given the rapidly changing capital deployment landscape, a number of utilities that are typically Q4 roll-forward companies gave off-cycle or early previews of updated capital plans, prompting the firm to revise its model in the sector, the analyst tells investors in a research note.