CMS Energy price target raised to $76 from $65 at Mizuho

Mizuho analyst Anthony Crowdell raised the firm’s price target on CMS Energy to $76 from $65 and keeps an Outperform rating on the shares. Late last week, CMS received Staff and Intervenor testimony in their Electric rate case, notes the firm, which views the testimony as “reasonably constructive.” The constructive nature of this testimony reinforces the firm’s view that the below-expectations PFD released in the DTE Gas case on September 5 “was an outlier, and not representative of MI regulation changing as a whole,” the analyst tells investors.