UPDATE: Credit Suisse Upgrades CMS Energy (CMS) to Outperform

Credit Suisse analyst Michael Weinstein upgraded CMS Energy (NYSE: CMS) from Neutral to Outperform with a price target of $64.00 (from $63.00).

The analyst comments "We are Upgrading to Outperform (from Neutral) on valuation, with the current 15% total return potential compelling in light of above-average 6-8% EPS growth, favorable regulatory environment, and a healthy balance sheet. To the extent that some investors may be discounting the value of the gas utility (~40% of earnings), we see continued strong growth, especially in colder upper Midwest climates – even if the public pushed for full electrification of gas appliances and commercial load, this could require a tripling of the current electric system, a major hypothetical opportunity for CMS rather than downside risk."

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 $56.86 yesterday.

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