ISI Upgrades Southern Company to Hold

ISI is out with its report today on Southern Company SO, upgrading SO to Hold from Sell. In its report, ISI writes, "We now rate SO Hold, Low Risk, with a $38 12-month target price. SO is more fully priced than other stocks in our Regulated sub-group, but nonetheless we see minimal downside in the shares over the next twelve months at our current target price, which could prove conservative." ISI has a $38 PT on SO. Shares of SO closed Friday at $39.21.