Wells Fargo Upgrades CMS Energy (CMS) to Outperform; Higher Quality Regulated Names

July 13, 2012 7:38 AM EDT
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Price: $41.94 --0%

Rating Summary:
    3 Buy, 13 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Wells Fargo upgraded CMS Energy (NYSE: CMS) from Market Perform to Outperform with a price target range $27-$28 (from $24-$25).

Analyst, Neil Kalton, said, "Our upgrade is the result of our ongoing diligence since assuming coverage of CMS earlier in 2012. We increasingly view CMS as one of the higher quality regulated names within our coverage universe. Positive attributes include above industry average 5-year EPS growth prospects (7% vs. the peer group of 4-5%), an above average regulatory environment, a strong cash flow profile with no equity needs for the foreseeable future and a commensurate dividend yield with likely better annual growth prospects than peers...Our 12-14E EPS are $1.55, $1.62 & $1.70 vs. $1.54, $1.64 & NE, previously."

For an analyst ratings summary and ratings history on CMS Energy click here. For more ratings news on CMS Energy click here.

Shares of CMS Energy closed at $23.81 yesterday.

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