Mizuho downgrades CMS Energy to 'neutral', cuts PT

CMS Energy

15/10/2024 12:39

** Shares of utility firm CMS Energy  CMS.N  fall marginally
to $69.60 premarket
    ** Brokerage Mizuho Securities downgrades stock to "neutral"
from "outperform"; cuts PT to $72 from $76
    ** New PT implies a 3% discount to stock's last close
    ** Mizuho sees limited opportunity for significant multiple
upside from current levels
    ** "Consensus estimates already reflect growth at the top of
the guidance range... we do not believe meaningful upside to
estimates is likely in the future, barring a change to the
guidance range, which we also view as unlikely" - Mizuho
    ** Nine out of 19 brokerages rate stock "buy" or higher and
10 rate it "hold"; their median PT is $72 - LSEG
    ** As of last close, stock has gained 20.3% YTD

 (Reporting by Vallari Srivastava in Bengaluru)
 ((Srivastava.Vallari@thomsonreuters.com;))