James Thalacker, an analyst from BMO Capital, reiterated the Buy rating on CMS Energy. The associated price target remains the same with $82.00.

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James Thalacker has given his Buy rating due to a combination of factors, starting with CMS Energy’s successful strategic review and decision to sell NorthStar’s renewable development platform, which removes rebasing risk while keeping key gas and Michigan solar assets. Management’s new 2027 EPS guidance of $4.08–4.17, though implying slightly slower near‑term growth, still aligns with the firm’s 6–8% long‑term earnings growth objective and supports confidence in the trajectory.

Thalacker also emphasizes the potential earnings accretion from reduced financing needs and redeploying capital into regulated investments, alongside upside capital expenditure opportunities such as reliability projects and a sizable data center load. Combined with CMS’s above‑average earnings and dividend growth profile, visible long‑term capital plan, solid execution, and supportive regulatory backdrop, he believes the shares remain attractive at current levels, justifying an unchanged $82 price target and a Buy rating.

In another report released today, Scotiabank also maintained a Buy rating on the stock with a $87.00 price target.