AES Corp. price target lowered to $15 from $23 at BofA

BofA lowered the firm’s price target on AES Corp. to $15 from $23 and keeps a Neutral rating on the shares. The firm is tempering expectations and reining in its renewable deployment forecast given the challenging funding backdrop, the analyst tells investors. While the firm sees low probability that management will “reset” the long-term plan any time soon, considerable uncertainty on just how growth targets will be achieved keeps BofA “hesitant to step in,” the analyst added.