CMS Energy (CMS) PT Lowered to $71 at BMO Capital; Maintains Outperform as Regulatory Derisking Continues

June 27, 2022 7:15 AM EDT
Get Alerts CMS Hot Sheet
Price: $60.52 -1.45%

Rating Summary:
    9 Buy, 15 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 2 | Down: 23 | New: 24
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BMO Capital analyst James Thalacker lowered the price target on CMS Energy (NYSE: CMS) to $71.00 (from $80.00) while maintaining an Outperform rating as regulatory derisking continues.

The analyst commented, "We see the company's recent regulatory announcements as a positive for CMS shares. Both events not only derisk two out of three of the company’s outstanding regulatory proceedings but also once again highlight Michigan’s continued constructive regulatory environment. We maintain our Outperform rating. Our target price moves to $71 as we mark to market our 2024 base relative P/E multiples (17.2x and 17.1x, respectively)."

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