RBC Capital Believes AES (NYSE: AES) Still Has Room to Grow

RBC Capital analyst Shelby Tucker maintained a Buy rating on AES (AESResearch Report) yesterday and set a price target of $20.00. The company’s shares closed last Monday at $19.90, close to its 52-week high of $21.23.

According to TipRanks.com, Tucker is a 5-star analyst with an average return of 7.2% and a 69.6% success rate. Tucker covers the Utilities sector, focusing on stocks such as Public Service Enterprise, American Electric Power, and Nextera Energy Partners.

Currently, the analyst consensus on AES is a Strong Buy with an average price target of $21.38, implying a 7.4% upside from current levels. In a report issued on October 16, J.P. Morgan also maintained a Buy rating on the stock with a $22.00 price target.

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AES’s market cap is currently $13.24B and has a P/E ratio of 66.30. The company has a Price to Book ratio of 15.81.

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AES Corp. engages in the provision of power generation and utility services through its renewable and thermal generation facilities and distribution businesses. It operates through the following business segments: U.S. and Utilities Strategic Business Unit (SBU), South America SBU, MCAC SBU, Eurasia SBU, and Corporate and Other. The U.S. and Utilities SBU segment consists of facilities in the United States, Puerto Rico, and El Salvador. The South America SBU segment covers Chile, Colombia, Argentina, and Brazil. The MCAC SBU segment refers to Mexico, Central America, and the Caribbean. The Eurasia SBU segment handles operations in Europe and Asia. The Corporate and Other segment includes the results of the AES self-insurance company. The company was founded by Dennis W. Bakke and Roger W. Sant in 1981 and is headquartered in Arlington, VA.