What exactly changed in the Morgan Stanley note for SO on Feb 20, 2026?

Morgan Stanley maintained an **Underweight** rating for SO and raised its price target to **$91** from **$85** on February 20, 2026. The firm kept its cautious view while adjusting fair-value assumptions upward.

How should investors interpret the SO analyst rating of Underweight?

An Underweight rating signals limited expected upside versus peers or the market. For SO, it means analysts see valuation or sector headwinds that outweigh near-term share appreciation potential.

Does the new SO price target affect dividend investors?

The $91 price target is a valuation view and does not change dividend policy directly. Dividend investors should still review payout consistency, cash flow, and regulatory risks before acting.

Where can I read Morgan Stanley’s note on SO?

The Morgan Stanley update raising the SO price target and maintaining Underweight was reported on TheFly and is available for review in that report [source](https://thefly.com/permalinks/entry.php/id4297565/0861286394/SO-Southern-Company-price-target-raised-by--at-Morgan-Stanley-heres-why).

Analyst Ratings

Morgan Stanley Maintains Underweight on The Southern Company (SO) Feb 2026

ByDanny Kontos February 23, 2026February 23, 2026

Morgan Stanley maintained an Underweight rating on The Southern Company (SO) on February 20, 2026, while raising its price target to $91 from $85. That SO analyst rating comes with a small near-term market move of 0.49% ($0.47) and follows the firm’s valuation view. Meyka AI, an AI-powered market analysis platform, tracked the change and notes the company market cap at $103,856,208,792. This update is price-target positive but keeps a cautious stance on longer-term upside, and it is important for investors weighing income, rate sensitivity, and regulatory exposure.