AES Corp. upgraded to Hold from Underperform at Jefferies

Jefferies analyst Julien Dumoulin-Smith upgraded AES Corp. (AES) to Hold from Underperform with a price target of $13, up from $12. While the firm continues to see “significant hurdles” to a potential M&A deal following reports from Bloomberg in July and Financial Times on October 1, it sees $13 per share as a reasonable “floor” for shares as the firm is giving more credit to data center opportunities at U.S. utilities, the analyst tells investors.