The AES Corporation (AES) Price Target Updated by Mizuho

The AES Corporation (NYSE:AES) is included among the 10 Best Renewable Energy Dividend Stocks to Buy Now.

The AES Corporation (NYSE:AES), together with its subsidiaries, operates as a power generation and utility company in the United States and internationally. Ranked as the largest global supplier of clean energy to corporations by BloombergNEF for the third consecutive year, the company maintains a substantial project pipeline across solar, wind, and energy storage.

On November 6, Mizuho raised its price target on The AES Corporation (NYSE:AES) from $15 to $16, while keeping an ‘Outperform’ rating on its shares. This target represents an upside potential of over 15% from the stock’s current share price, as of the writing of this piece.

The AES Corporation (NYSE:AES) reported mixed results for its Q3 on November 4, with its adjusted EPS of $0.75 falling just below expectations by $0.02. However, the company’s revenue of $3.35 billion managed to top estimates by over $126 million. AES also remains on track to sign 4 GW of new PPAs this year, with 2.2 GW already signed and advanced negotiations expected to bring in at least an additional 1.8 GW by year-end. Moreover, it highlighted a 46% growth in YTD renewables EBITDA, driven by organic growth and maturing renewables businesses in the US.

The AES Corporation (NYSE:AES) also remains committed to its shareholders and reaffirmed its commitment to return over $500 million in dividends this year, while also investing approximately $1.8 billion towards new growth.

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Disclosure: None.