Argus Upgrades AES (AES) to Buy as Data Center Demand Grows

The AES Corporation (NYSE:AES) is one of the best hydrogen stocks to buy right now. On December 5, Argus upgraded The AES Corporation (NYSE:AES) stock to Buy from Hold.

Independently of the analyst action, on December 5, The AES Corporation’s Board declared a $0.17595 per share quarterly dividend on common stock. All shareholders on the books as of January 30, 2026, will receive the payment. The payment amount hasn’t changed since the company implemented an increase in Q1 2025.

Separately, on November 11, Jefferies upgraded AES stock from Underperform to Hold and lifted the price target to $13 from $12. The change gives more credit to data center opportunities at AES’s regulated utilities in Indiana and Ohio, including renewable-powered land developments. Jefferies noted that it now values both utilities at the average electric group P/E multiple to reflect expected acceleration and longer-term growth from data center opportunities. The firm views $13 per share as a reasonable “floor” for shares based on reported enterprise value.

Jefferies noted that AES Indiana is finalizing significant deals, while AES Ohio has signed agreements for over 2.1 GW of data centers. There is also additional potential opportunities in the 6 GW+ range. The firm sees these as part of AES’s growth strategy, though it characterized them as more of a one-time benefit rather than recurring.

The AES Corporation (NYSE:AES) is an American energy company focused on developing, owning, and operating renewable energy projects, including one of the largest green hydrogen facilities in the United States. The company’s main products in the hydrogen sector are green hydrogen produced through electrolysis powered by wind and solar energy.

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