UPDATE: Credit Suisse Downgrades Southern Company to Neutral Following Recent Outperformance
Credit Suisse lowers its rating on Southern Company (NYSE: SO) from Outperform to Neutral with the price target remaining at $49.
Credit Suisse says, "We believe Southern should stay a core holding in a utility portfolio but think the opportunity for significant outperformance versus the group is more limited from here. SO remains a best in class utility across the board with strong growth of 4-7%, excellent management, and constructive regulation with another 18 months until the next major rate case decision (GA Power in December 2013)."
SO closed at $47.38 on Friday.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.