AES Corp. downgraded to Peer Perform from Outperform at Wolfe Research

Wolfe Research analyst Steve Fleishman downgraded AES Corp. to Peer Perform from Outperform without a price target into the company’s analyst day. The analyst sees a likely reset of growth expectations due to tax credit and coal exit headwinds post 2025. Over the long-term, the firm remains positive on AES’s renewables leadership and shift to the U.S. However, the final legs of AES’s transition "likely require some reset," the analyst tells investors in a research note.