AES - AES a 'low-risk clean tech play' Morgan Stanley says in bullish take

AES Corp. (AES +0.7%) bounces off 52-week lows after Morgan Stanley weighed in with a bullish note, rating the stock at Overweight with a $30.50 price target and seeing "a compelling play on clean energy growth, given the stock is "reflecting close to zero value for growth" and the company has one of the largest global renewables growth pipelines. AES is "the most attractive risk-adjusted play among our clean energy universe, driven by significant asset/business value which is now close to 100% of the stock price, one of the largest renewables/storage development businesses globally, and several positive catalysts." Byrd noted AES' 2021 renewables growth at 5 GW approaches U.S. market leader NextEra Energy (NEE +0.3%), which added 7.2 GW to its backlog and has a 9x larger market cap than AES. Among "numerous" potential catalysts, according to Byrd, are higher power prices in California, EPS accretion from Chilean consolidation and a

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AES a 'low-risk clean tech play,' Morgan Stanley says in bullish take