Morgan Stanley Believes AES (AES) Still Has Room to Grow

In a report released today, Stephen Byrd from Morgan Stanley maintained a Buy rating on AES (AES), with a price target of $23.00. The company’s shares closed last Thursday at $21.02, close to its 52-week high of $21.23.

According to, Byrd is a 4-star analyst with an average return of 3.4% and a 53.8% success rate. Byrd covers the Utilities sector, focusing on stocks such as Algonquin Power & Utilities, Public Service Enterprise, and Nextera Energy Partners.

AES has an analyst consensus of Strong Buy, with a price target consensus of $21.75, which is a 7.6% upside from current levels. In a report issued on November 3, UBS also maintained a Buy rating on the stock with a $22.00 price target.

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Based on AES’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $2.22 billion and GAAP net loss of $83 million. In comparison, last year the company earned revenue of $2.48 billion and had a net profit of $17 million.

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AES Corp. engages in the provision of power generation and utility services through its renewable and thermal generation facilities and distribution businesses. It operates through the following business segments: U.S. and Utilities Strategic Business Unit (SBU), South America SBU, MCAC SBU, Eurasia SBU, and Corporate and Other. The U.S. and Utilities SBU segment consists of facilities in the United States, Puerto Rico, and El Salvador. The South America SBU segment covers Chile, Colombia, Argentina, and Brazil. The MCAC SBU segment refers to Mexico, Central America, and the Caribbean. The Eurasia SBU segment handles operations in Europe and Asia. The Corporate and Other segment includes the results of the AES self-insurance company. The company was founded by Dennis W. Bakke and Roger W. Sant in 1981 and is headquartered in Arlington, VA.

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