Recent weakness in AES Corp. offers buying opportunity, says Argus

Argus keeps a Buy rating and $25 price target on AES Corp. but notes that the recent weakness in the stock provides a buying opportunity. The company is positioning itself as a leader in new energy technologies, including green hydrogen, and should benefit from the global transition to more sustainable, environmentally friendly power generation, the analyst tells investors in a research note. AES is also the number-one global seller of renewable energy to corporate customers and, despite cost inflation and rising interest rates, the management expects to maintain its project margins, the firm added.