AES Corp
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Company profile

The AES Corporation is a holding company. The Company, through its subsidiaries and affiliates, operates a diversified portfolio of electricity generation and distribution businesses. It is organized into six strategic business units (SBUs): the United States; Andes; Brazil; Mexico, Central America and the Caribbean (MCAC); Europe, and Asia. As of December 31, 2016, its United States SBU had 18 generation facilities and two integrated utilities in the United States. As of December 31, 2016, its Andes SBU had generation facilities in three countries. Its Brazil SBU has generation and distribution businesses, Eletropaulo and Tiete. As of December 31, 2016, its MCAC SBU had a portfolio of distribution businesses and generation facilities, including renewable energy, in five countries. As of December 31, 2016, its Europe SBU had generation facilities in five countries. As of December 31, 2016, its Asia SBU had generation facilities in three countries.

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Tesla's stock fall premarket; RBC reiterates bearish view, but warns not to short

7:45 am ET February 7, 2020 (MarketWatch)

Shares of Tesla Inc. (TSLA) fell 2.6% in premarket trading, to extend the pullback from record highs, as RBC Capital analyst Joseph Spak reiterated his bearish view saying the shares have disconnected from fundamentals. Spak's $530 stock price target is 29% below Thursday's closing price of $748.96. The stock had doubled in a month to close Tuesday at a record $887.06 before pulling back. Spak said it "isn't exactly clear" what caused the recent hyperbolic rally (, but he suggested some contributing factors were "strong narrative, FOMO, short covering, and more," combined with a somewhat limited number of tradable shares. He said that while there has been good news on the fundamental front, including positive free cash flow, positive net income, more capacity coming online in China and Germany and a better-than-expected 2020 delivery guidance, but that doesn't necessarily justify current valuations. "In some respects, being bullish on Tesla really requires belief in their autonomy strategy and getting margins/FCF higher via software," Spak wrote in a note to clients. Although he remains in the bearish camp, he warned against going short the stock, or betting that prices will fall, because it is "unclear" if the market will brush off concerns, such as worries about the negative impact of the coronavirus. The stock has more than doubled (up 123.2%) over the past three months while the S&P 500 has gained 8.5%.

-Tomi Kilgore; 415-439-6400;

(END) Dow Jones Newswires

February 07, 2020 07:45 ET (12:45 GMT)

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