** Jefferies upgrades energy provider Southern Company SO.N rating to "buy" from "hold" and cuts PT to $100 from $102
** Shares of SO up marginally in premarket trading; new PT is 13.3% upside to stock's last close
** Brokerage says company's execution risk diminishes with regulatory certainty secured via rate case settlement and financing already underway
** "Although we don't expect a guidance raise yet, a rebase could occur as the company pivots into the higher-growth" - Jefferies
** Brokerage adds that the current valuation reflects SO as a premium utility, but does not adequately account for one of the sector's largest and most liquid names seeing accelerating earnings growth
** 7 out of 20 brokerages rate the stock "buy" or higher, 12 "hold" and 1 "sell"; their median PT is $94.50 - data compiled by LSEG
** As of last close, SO shares up 7.3% YTD
(Reporting by Sumit Saha in Bengaluru)
((Sumit.Saha@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.