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Southern Company price target raised to $99 from $98 at Scotiabank

Scotiabank raised the firm’s price target on Southern Company (SO) to $99 from $98 and keeps an Outperform rating on the shares. The firm is “highly impressed” with the off-cycle capex update and strong demand trends reported in Q2, the analyst tells investors. Additionally, Scotiabank anticipates ongoing positive estimate revisions and strong regulatory regimes.

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