Recent weakness in CMS Energy offers buying opportunity, says Argus

Argus keeps a Buy rating and $72 price target on CMS Energy (CMS) while noting that the recent weakness in the stock “offers a buying opportunity”. The company benefits from a favorable location in Michigan, which has a high proportion of skilled labor and a business-friendly regulatory environment, the analyst tells investors in a research note. Argus adds that CMS warrants a premium valuation based on its above-peer-average EPS growth, attractive customer mix, and favorable regulatory environment.