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Non-Tech : AES Corp. (AES)
AES 13.87-1.1%Oct 31 9:30 AM EDT

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To: JakeStraw who wrote (28)1/10/2002 12:21:06 PM
From: JakeStraw  Read Replies (1) of 47
 
RESEARCH ALERT-Goldman cuts AES from ``recommend'' list
biz.yahoo.com
NEW YORK, Jan 10 (Reuters) - Goldman Sachs said analyst Jon Raleigh on Thursday removed global independent power producer AES Corp. (NYSE:AES) from its recommended list, downgrading it to ''market outperform.''

``We are lowering our rating...based on price...The stock appears to be trading at a reasonable approximation of asset value, which we estimate is between $15 to $20 per share,'' he wrote in a research note.

Raleigh said shares of AES have risen about 45 percent since hitting bottom at $12 per share on Oct. 1, 2001. This compares with an 11 percent gain by the Standard & Poor's 500.

AES also outperformed its peers, holding a 25 percent premium over other energy merchants and trading in line with U.S. regulated electric stocks, he said.
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