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Fly News Breaks for January 17, 2020
Jan 17, 2020 | 05:51 EDT
KeyBanc analyst Sophie Karp upgraded Southern Company to Overweight from Sector Weight with a $71 price target. The analyst says the "out of consensus" call is based on the view that Southern is a "premium utility" operating in some of the most attractive regulatory jurisdictions. The analyst adds that while Vogtle remains an overhang, she's comfortable with the project risk at this point given recent progress. Southern Company outperformed significantly in 2019, but it still trades at a discount to peers, and investors should not wait for a pullback, Karp tells investors in a research note.