Wells Fargo upgraded Southern Company (SO) to Equal Weight from Underweight with a price target of $96, up from $84. The firm says the company “came out swinging at the bears” by upping long-term earnings growth target to 7%-8% from 5%-7%. The updated guidance “:was clearly ahead of our expectations, which came as a surprise,” the analyst tells investors in a research note. Wells admits to being wrong on Southern Company shares. It now takes a “more balanced view” on the name.
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Read More on SO:
- Mizuho upgrades Southern Company amid Georgia election ‘noise’
- Southern Company upgraded to Outperform from Neutral at Mizuho
- Southern Company upgraded to Equal Weight from Underweight at Wells Fargo
- Southern Company reports Q4 adjusted EPS 55c, consensus 56c
- Southern Company sees FY26 adjusted EPS $4.50-$4.60 consensus $4.56