What exactly did Jefferies change on February 23, 2026 for SO?

Jefferies maintained a **Hold** rating and raised the price target to **$102** on February 23, 2026 at 01:06 PM. The firm adjusted valuation models but left the underlying recommendation unchanged.

Does the Jefferies note count as an upgrade or downgrade for SO?

No. Jefferies maintained the Hold rating. Raising the price target without changing the rating is a neutral or data-driven update, not an upgrade or downgrade.

How should dividend investors view this SO analyst rating action?

Dividend investors can view the update as mildly positive for valuation but neutral for income security. The Hold rating suggests no change to long-term income assumptions, while the higher PT signals some upside.

Where can I read the analyst note and the earnings call transcript?

Jefferies’ note summary was posted on StreetInsider. Read it here [StreetInsider](https://www.streetinsider.com/Analyst+Comments/Southern+Co.+%28SO%29+PT+Raised+to+%24102+at+Jefferies/26041718.html). The Q4 2025 earnings call transcript is on Seeking Alpha [Seeking Alpha](https://seekingalpha.com/).

Analyst Ratings

Jefferies Maintains Hold, Raises PT to $102 on The Southern Company (SO) Feb 2026

ByDanny Kontos February 24, 2026February 24, 2026

Jefferies on February 23, 2026 maintained The Southern Company (SO) at Hold and raised the price target to $102. This single action is the latest entry in the SO analyst rating cycle and matters for income and utility equity investors. The change came at 01:06 PM and showed a modest market reaction, with a reported price change of -0.15% ($-0.14). We examine what Jefferies’ note and company context mean for holders and prospective buyers using Meyka AI-powered market analysis platform.