AES Corp. price target raised to $28 from $25 at Argus

Argus raised the firm’s price target on AES Corp. (AES) to $28 from $25 and keeps a Buy rating on the shares. The company is the largest provider of renewable energy to data centers in the U.S. and should benefit from the growing use of AI as well as from tax credits under the Inflation Reduction Act, the analyst tells investors in a research note, also noting that it is a major supplier of renewable energy to Google (GOOGL) and Microsoft (MSFT). These Argus is also boosting its FY24 EPS view on AES to 1.94 from $1.90 while maintaining its FY25 view at $2.10.