There’s a lot to be optimistic about in the Utilities sector as 2 analysts just weighed in on Southern Co (SO) and NextEra Energy (NEE) with bullish sentiments.
Southern Co (SO)
In a report issued on April 30, Michael Weinstein W. from Credit Suisse maintained a Buy rating on Southern Co, with a price target of $74.00. The company’s shares closed last Tuesday at $64.16.
According to TipRanks.com, W. is a 5-star analyst with an average return of 35.7% and a 67.3% success rate. W. covers the Utilities sector, focusing on stocks such as Pinnacle West Capital, Consolidated Edison, and Centerpoint Energy.
Southern Co has an analyst consensus of Moderate Buy, with a price target consensus of $67.56, implying a 4.8% upside from current levels. In a report issued on April 19, RBC Capital also maintained a Buy rating on the stock with a $73.00 price target.
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NextEra Energy (NEE)
Wells Fargo analyst Neil Kalton maintained a Buy rating on NextEra Energy on May 12. The company’s shares closed last Tuesday at $72.29.
According to TipRanks.com, Kalton is a 4-star analyst with an average return of 7.0% and a 64.8% success rate. Kalton covers the Utilities sector, focusing on stocks such as Public Service Enterprise, South Jersey Industries, and American Electric Power.
Currently, the analyst consensus on NextEra Energy is a Strong Buy with an average price target of $86.71, which is a 20.9% upside from current levels. In a report issued on April 27, Merrill Lynch also reiterated a Buy rating on the stock with a $86.00 price target.
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