The Southern Company (NYSE:SO) is included among the 12 Best Electric Utility Stocks to Buy for the Data Center Surge.
The Southern Company (NYSE:SO) is one of the largest producers of electricity in the United States and the largest wholesale provider in the Southeast.
On May 1, Mizuho slightly raised its price target on The Southern Company (NYSE:SO) from $104 to $105, while maintaining an ‘Outperform’ rating on the shares. The target boost, which indicates an upside of over 13% from the current price level, comes following the utility’s better-than-expected Q1 results.
The Southern Company (NYSE:SO) beat profit and revenue estimates and delivered YoY growth across all its major businesses in its Q1 report on April 30, helped by an increase in power demand. The company reported an adjusted EPS of $1.32, up $0.09 from the same period last year and exceeding the Wall Street estimates by $0.11. The utility’s revenue of $8.4 billion was also up nearly 8% YoY and topped forecasts by $280 million.
The Southern Company (NYSE:SO) expects adjusted earnings of $1 per share for the second quarter.
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