CMS Maintained by Jefferies -- Price Target Lowered to $74.00

CMS Energy (NYSE: CMS) faces operational uncertainty after a court ruling invalidated an extension for its J.H. Campbell coal plant. The company's GF Value™ suggests it is 11.1% undervalued, but its financial health is weak, with a GF Score™ of 69. Insiders have sold more shares than they bought, while guru ownership remains stable. CMS's P/S ratio is 2.34x, slightly below its historical median.

CMS Energy's stock hit a 52-week low of $67.19, with a P/E ratio of 20.25 and a 3.37% dividend yield. Q2 2026 earnings of $0.37 per share missed expectations, but the company reaffirmed its full-year outlook. BMO Capital lowered its price target to $77, maintaining an Outperform rating.

A federal appeals court ruled that the DOE exceeded its authority by forcing a Michigan coal plant to stay open beyond its planned 2025 closure. The decision impacts the Trump administration's efforts to keep aging coal plants operational. The plant's continued operation cost its owner, Consumers Energy, $295 million from May 2025 to June 2026, according to the Michigan attorney general's office.

China Medical System Holdings (CMS) has begun the clinical rollout of Silevimig, the world's first bispecific antibody for rabies passive immunisation. Initial prescriptions were issued at multiple hospitals in China. Silevimig is a Class 1 innovative drug with a smaller dose and lower injection volume compared to human rabies immune globulin (HRIG). It was approved in China in June 2026 and is manufactured using recombinant technology, eliminating the risk of blood-borne infections. CMS aims to

CMS Energy (CMS) stock hit a 52-week low of $67.81, down 4.69% over the past year. The company reported Q2 2026 adjusted earnings of $0.37 per share on revenue of $1.83 billion, missing estimates. CMS has raised its dividend for 19 consecutive years, offering a current yield of 3.34%. Bank of America noted that most utilities companies surpassed earnings estimates, except for two, including CMS.

Peter Thiel's hedge fund, Thiel Macro, reported a $418.7M portfolio, with seven of eight positions in energy companies, including Vista Energy, Vistra, and American Electric Power. The fund's largest holding is Amazon, at $118M, 28% of the portfolio, betting on AI-driven electricity demand.