BUZZ-AES Corp falls after Jefferies cuts rating on slower growth prospects

Reuters04-10

** Utility firm AES Corp's AES.N shares down 2.3% to $10.90 premarket

** Jefferies downgrades company's shares to "hold" from "buy"; cuts PT to $10 from $15

** Brokerage cites slower growth prospects in a difficult market and weakness in company's balance sheet as drivers for downgrade

** Jefferies' $10 PT on AES represents 10.2% downside to stock's last close

** "AES has more insulation from tariffs with its domestic strategy, but the company's international ownership and overall complexity are unlikely to resonate with investors now" -Jefferies

** 9 of 15 brokerages rate the stock "buy" or higher, 5 "hold" and 1 "sell" or lower; median PT $15 - LSEG

** As of last close, AES stock down 13% YTD

(Reporting by Kanchana Chakravarty in Bengaluru)

((Kanchana.Chakravarty@thomsonreuters.com))

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