Southern Company (SO) Expecting Further Additions to an Efficient Capital Plan

The Southern Company (NYSE:SO) is one of the 10 best regulated electric stocks to buy according to hedge funds.

On March 5, Evercore ISI upgraded The Southern Company (NYSE:SO) stock to an Outperform rating from In Line, and increased its price target to $111 from $103.

Suwin/Shutterstock.com

The firm stated that it still regarded The Southern Company (NYSE:SO) as a core foundational utility holding business, which has led to it becoming incrementally bullish over the last two months. Evercore believes that the stock is due for another breakout to all-time highs, driven by potential additions to the company’s capital plan. These developments will be driven by a favorable regulatory environment and strategic economic development initiatives.

On March 4, KeyBanc upgraded The Southern Company (NYSE:SO) from an Underweight rating to Sector Weight. KeyBanc’s upgrade reflects a recognition of Southern Company’s valuation compression relative to its utility peers. The firm also noted that recent revisions to earnings growth guidance, combined with constructive operational news flow, suggest a stabilizing fundamental outlook.

The Southern Company (NYSE:SO) operates as a comprehensive energy holding firm, managing a massive, vertically integrated infrastructure. They bridge the gap between generation and delivery by providing retail and wholesale electric services, alongside natural gas distribution and resilient energy solutions, ensuring reliable power across residential, industrial, and governmental sectors nationwide.

While we acknowledge the risk and potential of SO as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than SO and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years.

Disclosure: None. Follow Insider Monkey on Google News.