AES Corp falls after Jefferies cuts rating on slower growth prospects

Utility firm AES Corp's AES.N shares down 2.3% to $10.90 premarket

Jefferies downgrades company's shares to "hold" from "buy"; cuts PT to $10 from $15

Brokerage cites slower growth prospects in a difficult market and weakness in company's balance sheet as drivers for downgrade

Jefferies' $10 PT on AES represents 10.2% downside to stock's last close

"AES has more insulation from tariffs with its domestic strategy, but the company's international ownership and overall complexity are unlikely to resonate with investors now" -Jefferies

9 of 15 brokerages rate the stock "buy" or higher, 5 "hold" and 1 "sell" or lower; median PT $15 - LSEG

As of last close, AES stock down 13% YTD