AES Corp. price target raised to $31 from $29 at Argus

Argus analyst David Coleman raised the firm’s price target on AES Corp. to $31 from $29 and keeps a Buy rating on the shares. The company’s efficient gas-fired generating units are set to drive strong earnings growth over time, the analyst tells investors in a research note. Coleman adds however that based on its construction program and infrastructure upgrade schedule, AES will require some external financing, which may put pressure on the balance sheet.