UPDATE: Ladenburg Thalmann Reiterates Neutral Rating, Raises PT for CMS Energy

In a report published earlier today, Ladenburg Thalmann Financial Services reiterated its Neutral rating for CMS Energy Corporation

and slightly raised its price target from $23.00 to $23.50. Ladenburg Thalmann went on to say “We view CMS as a defensive utility investment with earnings/cash visibility, history of earning allowed returns, attractive average annual rate base/earnings growth (5-7%), attractive dividend yield of 4.1%, constructive state utility regulation (forward test year, interim rates), minimal external equity needs due to NOLs. With limited upside to our price target objective, we continue to rate CMS shares Neutral.” CMS Energy Corporation closed yesterday at $23.37.