Jefferies initiated coverage of CMS Energy (CMS) with a Buy rating and $76 price target The firm forecasts a 7.5% EPS compound annual growth rate for the regulated electric and natural gas utility operating across most of the Michigan, noting that due to its large footprint and infrastructure replacement needs, CMS has “among the most visible” long-term investment trajectories of any utility. Onshoring, datacenters and other opportunities would extend the runway, the analyst tells investors.
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