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AES Corp. (NYSE:AES)‘s stock had its “equal weight” rating reiterated by investment analysts at Morgan Stanley in a note issued to investors on Wednesday. They currently have a $16.00 price target on the stock. Morgan Stanley’s price target would indicate a potential upside of 9.89% from the stock’s previous close.

The analysts wrote, “Sale of Silver Ridge stake is constructive and supports cash flow, but value is in-line with our view. We view the sale of AES’ partial interest in Silver Ridge as a positive for shares, although it does not impact our valuation since we already include it. Nonetheless, we believe it is a step towards executing its plan to simplify the business model, unlock shareholder value, and effectively deploy capital.”

Shares of AES Corp. (NYSE:AES) traded up 1.89% on Wednesday, hitting $14.835. The stock had a trading volume of 3,631,950 shares. AES Corp. has a one year low of $11.17 and a one year high of $15.54. The stock has a 50-day moving average of $14.15 and a 200-day moving average of $14.19. The company’s market cap is $10.760 billion.

AES Corp. (NYSE:AES) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.24 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.27 by $0.03. The company had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $4.37 billion. During the same quarter last year, the company posted $0.26 earnings per share. AES Corp.’s revenue was up 2.7% compared to the same quarter last year. Analysts expect that AES Corp. will post $1.34 EPS for the current fiscal year.

Separately, analysts at Zacks reiterated a “neutral” rating on shares of AES Corp. in a research note on Friday, June 6th. They now have a $15.00 price target on the stock. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $16.10.

The AES Corporation (NYSE:AES) owns a portfolio of electricity generation and distribution businesses on five continents in 27 countries, with total capacity of approximately 44,200 megawatts and distribution networks.

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