Southern Company (The) (NYSE:SO) stock is expected to deviate a maximum of $2.3 from the average target price of $50.43 for the short term period. 7 Street Experts have initiated coverage on the stock with the most promising target being $53 and the most muted being $46.
Shares of Southern Company rose by 5.03% in the last five trading days and 8.19% for the last 4 weeks. Southern Company is up 4.9% in the last 3-month period. Year-to-Date the stock performance stands at 17.2%. Also, Scotia Howard Wiel initiates coverage on Southern Company (The) (NYSE:SO). The shares have now been rated Sector Perform by the stock experts at the ratings house. The rating by the firm was issued on May 13, 2016.
Southern Company (The) (NYSE:SO) : Zacks Investment Research ranks Southern Company (The) (NYSE:SO) as 3, which is a Hold recommendation. Not everyone is convinced about the stocks future, hence, the stock receives 1 Sell recommendation. 1 more believe that the stock has more downside risks, hence they propose a Strong Sell. A total of 9 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 11 research analysts is 3.21, which indicates as a Hold.
Southern Company (The) (NYSE:SO): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $52.32 and $52.22 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $53.64. The buying momentum continued till the end and the stock did not give up its gains. It closed at $53.63, notching a gain of 2.70% for the day. The total traded volume was 9,498,353 . The stock had closed at $52.22 on the previous day.
Southern Company is an operating public utility company. The primary business of the Southern Company is electricity sales by the traditional operating companies and Southern Power. Southern Companys business segments are the sale of electricity by the four traditional operating companies and Southern Power. The four traditional operating companies, including Alabama Power, Georgia Power, Gulf Power and Mississippi Power, are vertically integrated utilities providing electric service in four Southeastern states. Southern Company owns all of the common stock of Southern Power Company, which is also an operating public utility company. Southern Power constructs, acquires, owns, and manages generation assets, including renewable energy projects, and sells electricity at market-based rates in the wholesale market. The Company also operates the All Other segment.