ISI Upgrades Southern Company to Hold

ISI is out with its report today on Southern Company (NYSE: 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.