With an annual dividend yield of 3.22%, The Southern Company (NYSE:SO) is included among the 10 High Yield Stocks for Lasting Retirement Income.
On May 21, Morgan Stanley analyst David Arcaro lowered the firm’s price recommendation on The Southern Company (NYSE:SO) to $87 from $92
He reiterated an Underweight rating on the shares. The analyst said the firm updated its price targets for Regulated & Diversified Utilities and IPPs across North America for April. Morgan Stanley also noted that utilities lagged the S&P’s return during the month.
Earlier in the month, on May 1, Raymond James raised its price goal on SO to $104 from $103. It kept an Outperform rating on the stock. The analyst said the company continues to execute well, backed by solid demand visibility, a large contracted load pipeline, and an $81B regulated capital expenditure plan expected to support 9% rate base growth through 2030.