AES Corp. price target lowered to $15 from $16 at Mizuho

Mizuho lowered the firm’s price target on AES Corp. (AES) to $15 from $16 and keeps an Outperform rating on the shares. The company surprised investors by suspending dividend growth and removing equity needs from its plan, the analyst tells investors in a research note. The firm views this as a “significantly positive update,” saying AES has has been “challenged on all sides” since its Q3 report. Mizuho believes the company’s near-term headwinds have overshadowed its strong free cash flow story.