I bought AES right at the open. After idling for 15minutes, the stock made a huge move upwards. Today, AES corporation issued a presentation for investors highlighting the fact that their stock has been severely undervalued by 15%. AES feels that its stock should be trading at $13.3 instead of $11.6.
Of course, many investors started piling up their portfolio with AES corporation. This is a utility stock and it has extremely low beta. However, the AES does not issue dividends. It is essentially a growth stock.
AES is much stronger than it was 10 years ago.
My short term target for AES is at $12.60
Today, it rose 2.48%. Quite a feat for a Utility company. The technicals show that AES is rebounding from its low of $10.75. The stock has traded at $15 last December. With Oil price going up, AES has no where to go but up.
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