Morgan Stanley Raises AES Corp. (AES) PT to $24, Cites Utility Focus on Data Center Pipeline

The AES Corporation (NYSE:AES) is one of the best large cap stocks to buy under $20. On October 22, Morgan Stanley analyst David Arcaro raised the price target on AES Corp. to $24 from $23, while keeping an Overweight rating on the shares. This decision was announced as the firm updated its price targets for Regulated & Diversified Utilities/IPPs in North America under its coverage.

Morgan Stanley noted that last month, in September, utilities outperformed the S&P, and so heading into Q3 2025, the firm expects the focus for utility companies to be the evolution of their data center pipeline. So the firm will also be closely watching for commentary regarding interconnection times.

The AES Corporation (NYSE:AES), together with its subsidiaries, operates as a power generation and utility company in the US and internationally.

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Disclosure: None. This article is originally published at Insider Monkey.