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@kewur 3 months ago

SO gets price target cuts despite decent Q3 earnings

SO gets price target cuts despite decent Q3 earnings

Southern Company (SO) just had its price target lowered by both Barclays ($98 to $91) and Morgan Stanley ($99 to $97), both keeping an Equal Weight rating. This comes after Q3 earnings beat by $0.09 ($1.60/share), but revenue missed by about $100M. Still, they raised the dividend to $0.74/share, with a 3.32% yield. Utilities have underperformed recently, so that's probably playing into the cautious outlook.
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