CMS Energy downgraded to Neutral from Outperform at Mizuho

Mizuho downgraded CMS Energy to Neutral from Outperform with a price target of $72, down from $76. The firm sees limited opportunity for significant multiple upside from current levels. While Mizuho continues to view the CMS story as strong, supported by constructive Michigan regulation and consistent earnings growth, it believes this strength is accurately reflected at current valuation levels. Consensus estimates already reflect growth at the top of the guidance range, adds the firm.