AES Corp. price target lowered to $16 from $24 at Mizuho

Mizuho lowered the firm’s price target on AES Corp. (AES) to $16 from $24 and keeps an Outperform rating on the shares. The firm expects to get a first glimpse on the future of the Inflation Reduction Act once the incoming administration submits their budget proposal for fiscal 2026, likely in the February or March 2025 time frame. It updated price targets to incorporate base-case assumptions of a full IRA repeal scenario of tax credits for wind and solar.