Jefferies raises PT on CMS Energy

CMS Energy

30/09/2025 13:42

** Brokerage Jefferies raises price target on U.S. electric and gas utility CMS Energy CMS.N to $82 from $81

** The new price target represents a 13% upside to the stock's last close

** Brokerage says company is executing a low-risk growth strategy driven by pending large-load tariffs for hyperscalers

** Adds data center tariffs are expected in early Q4, without which hyperscaler projects (like data center conversions) cannot move forward

** "We continue to see CMS having further upside, primarily driven by increased capital expenditures to serve robust load growth prospects" - Jefferies

** Brokerage projections also include escalating capacity prices for its subsidiary Northstar's assets

** 9 of 16 brokerages rate the stock "buy" or higher, 7 "hold"; their median PT is $78 - data compiled by LSEG

** Up to last close, stock up 9.1% YTD

 (Reporting by Pranav Mathur in Bengaluru)

 ((Pranav.Mathur@thomsonreuters.com;))