In other recent news, AES Corp has been making significant strides in the energy sector. The company’s third-quarter earnings per share surpassed expectations at $0.71, exceeding the analyst consensus of $0.59. However, AES Corp’s revenue of $3.29 billion fell short of the projected $3.46 billion. Despite the revenue shortfall, the company has reaffirmed its full-year 2024 adjusted EPS guidance range of $1.87 to $1.97, aligning with the $1.92 consensus, and expects results to be in the upper half of that range.

AES Corp has also secured $500 million through a junior subordinated notes offering, a substantial financial move facilitated by an agreement with major financial institutions. On the analyst front, HSBC has upgraded AES Corp to a Buy rating, citing potential growth from the company’s greenfield renewable projects. BofA Securities, however, initiated an Underperform rating on AES Corp, indicating potential risks in the company’s ambitious renewable energy expansion plans. Despite the downgrade, Susquehanna maintains a positive view on the stock, although they revised their stock price target for AES, reducing it from $24 to $21. These are among the recent developments for AES Corp.

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