Southern Company price target raised to $90 from $85 at Mizuho

Mizuho raised the firm’s price target on Southern Company (SO) to $90 from $85 and keeps a Neutral rating on the shares following the Q4 report. The company’s revised capex plan is expected to drive rate base growth of 7%, up from 6% previously, the analyst tells investors in a research note. The firm views the update as positive, but believes the shares are fairly valued.