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Analyst Actions: CMS Energy Ests and Target Raised at Credit Suisse; Shares Rise 1%, Off New High
By: MT Newswires
Analysts at Credit Suisse have raised their earnings estimates for CMS Energy Corporation ( CMS ), while also lifting the price target to $28.50 from $27.50 a share.
says: "Strong Outlook; The Predictable 5-7% Story; Raising Estimates and Target Price to $28.50 (from $27.50)"
"CMS held a constructive call (as usual) highlighting their relentlessly predictable story that in our minds puts them in the must-own 'higher growth plus quality' bucket," said Credit Suisse.
The firm added that "CMS remains a top pick for us," citing better than group and visible 5-7% EPS growth plus ~4% dividend yield, and its limited ability to negatively surprise over the foreseeable future.
The firm updated its 2013-15 estimates to $1.65, $1.75, and $1.86 from $1.61, $1.71 and $1.81.
Shares of CMS are up 0.9% to $26.36 in afternoon trade, off the 52-week high of $26.40 set earlier today.