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UPDATE: Credit Suisse Downgrades Southern Company to Underperform; Premium Unwarranted

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Credit Suisse reduced its rating on Southern Energy (NYSE: SO) from Neutral to Underperform with a $49 price target.

Credit Suisse noted, "We still view SO as an excellent utility with one of the best mgmt teams but we think the stock is more likely to underperform especially versus other large cap names given the current premium multiple… On relative P/E SO is currently trading at 122% vs the S&P on 2012 and 125% on 2013, an 8-10% premium vs the other comparable large caps (D, DUK, ED, and XEL) and rich to its historic 7% premium on a relative basis."

Southern Company closed at $45.67 on Monday.

Latest Ratings for SO

DateFirmActionFromTo
Dec 2014Deutsche BankMaintainsHold
Oct 2014Bank of AmericaDowngradesNeutralUnderperform
Oct 2014BarclaysMaintainsEqual-weight

View More Analyst Ratings for SO
View the Latest Analyst Ratings

Posted-In: Credit SuisseAnalyst Color Downgrades Intraday Update Analyst Ratings

 

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