Barclays Maintains an 'Overweight' on AES Corp. (AES); DPL Merger Becoming More Accretive

Barclays maintains an 'Overweight' on AES Corp. (NYSE: AES), PT $16.

Barclays analyst says, "On 6/22 DPL (NYSE: DPL)(Equalweight) filed the proxy agreement for the merger with AES Corp. which shows the deal to be $0.10-$0.12/share accretive for AES in 2012E. This is above the $0.05-$0.07/share accretion initially provided on 4/20. We get there by substituting DPL's forecast for AES's assumptions on 4/20 when the deal was announced. We also include a 6.3% assumed average cost of financing."

"We maintain our $1.38 2012 EPS estimate which assumes $0.16/share of accretion. AES expects to close the DPL merger in Q4'11 or Q1'12 with the Ohio Commission being the last approval secured. Comments on the merger are due July 18 at the Ohio Commission and responses are due August 18."

For more ratings news on AES Corp. click here and for the rating history of AES Corp. click here.

Shares of AES Corp. closed at $12.21 yesterday.

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