10 Firms Buck Market Bloodbath on Monday

6. The AES Corporation (NYSE:AES)

The AES Corp. grew its share prices by 4.71 percent on Monday to end at $11.78 each as investor sentiment was buoyed by bullish analysts’ outlooks for the company.

Last week, Bank of America upgraded AES’ rating to “neutral” from “underperform” previously, raising its price target to $13 from $11.

The bank said AES’ revised strategy, which involves capital spending cuts and a more achievable renewables growth target, improves its execution visibility. However, Bank of America underscored that risks for AES remain regarding asset sales and funding constraints.

Meanwhile, Mad Money host Jim Cramer earlier suggested it was “time to pick up” AES stock.

“What is that, 5 percent yield? It’s down way too low. I think it’s time to pick up that utility,” Cramer said.

Earlier, AES announced that it would expand its renewable energy capacity by bringing more than 3 GW of renewable energy online in 2025.