JP Morgan Maintains Underweight on Southern, Raises Price Target to $72
Portfolio Pulse from Benzinga Newsdesk
JP Morgan analyst Christopher Turnure has maintained an Underweight rating on Southern Company (NYSE:SO) but increased the price target from $69 to $72.
November 29, 2023 | 7:39 pm
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JP Morgan has maintained its Underweight rating on Southern Company but raised its price target from $69 to $72.
While the increase in price target could be seen as a positive signal, the Underweight rating suggests that JP Morgan's outlook on Southern Company remains bearish. The price target increase may reflect adjustments for market conditions or company valuation rather than a change in the company's fundamentals. Investors may view the price target raise as a minor positive, but the Underweight rating will likely have a more significant influence on investor sentiment and the stock's short-term performance.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100