As previously reported, Guggenheim upgraded CMS Energy to Buy from Neutral with a price target of $64, up from $60. CMS reported a FY23 EPS beat, raised 2024 guidance, and increased capex, says the analyst, who sees potential upside remaining on both capex and EPS growth. The firm no longer sees the company as a 6%-8% EPS growth story, but an 8% grower with EPS rebase opportunities, adds the analyst. The firm has been looking for an entry point into “the premium CMS story” and it now sees CMS “crossing the threshold for risk/reward as a premium Buy,” the analyst tells investors.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on CMS:
- CMS Energy Presents 2023 Results and Future Outlook
- CMS Energy’s Board of Directors Increases Quarterly Dividend on Common Stock to 51.50 Cents Per Share
- CMS Energy Announces Strong 2023 Results for the 21st Consecutive Year and Raises 2024 Adjusted EPS Guidance
- Is CMS a Buy, Before Earnings?
- CMS Energy price target lowered to $57 from $58 at Morgan Stanley