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Jefferies Sees Long-Term Growth Potential for CMS Energy, Initiates Coverage with a Buy Rating
Nov 5, 2024 1:32 PM - Davit Kirakosyan
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Jefferies analysts initiated coverage on CMS Energy (NYSE:CMS) with a Buy rating and a price target of $76 on the stock. They forecast a 7.5% compound annual growth rate (CAGR) in earnings per share (EPS), exceeding the company’s guidance of 6-8%.
The analysts highlighted CMS Energy’s extensive operations in Michigan and its significant infrastructure replacement needs, which contribute to a highly visible long-term investment trajectory. They also noted potential growth opportunities from onshoring and data center developments.
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