The Southern Company (SO) Price Target Raised Following Better-than-Expected Q1 Report

The Southern Company (NYSE:SO) is 1 of the largest producers of energy successful the United States and the largest wholesale supplier successful the Southeast.

On May 1, Mizuho somewhat raised its terms people connected The Southern Company (NYSE:SO) from $104 to $105, portion maintaining an ‘Outperform’ standing connected the shares. The people boost, which indicates an upside of implicit 13% from the existent terms level, comes pursuing the utility’s better-than-expected Q1 results.

The Southern Company (NYSE:SO) bushed nett and gross estimates and delivered YoY maturation crossed each its large businesses successful its Q1 study connected April 30, helped by an ​increase successful powerfulness demand. The institution reported an adjusted EPS of  $1.32, up $0.09 from the aforesaid play past twelvemonth and exceeding the Wall Street estimates by $0.11. The utility’s gross of $8.4 cardinal was besides up astir 8% YoY and topped forecasts by $280 million.

The Southern Company (NYSE:SO) expects adjusted net of $1 per stock for the 2nd quarter.

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