▲ +658.93% Upside Potential
This price target is based on 2 analysts offering 12 month price targets for CEMIG in the last 3 months. The average price target is $17.00, with a high forecast of $17.00 and a low forecast of $17.00. The average price target represents a 658.93% upside from the last price of $2.24.
The current consensus among 2 contributing investment analysts is to buy stock in CEMIG. This rating has held steady since January 2021, when it changed from a Hold consensus rating.
Companhia Energética de Minas Gerais, through its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in Brazil. The company generates electricity through renewable energy sources, such as water, wind, sun, and biomass; or non-renewable sources, including fossil and nuclear fuels. As of December 31, 2016, it operated hydroelectric plants, thermoelectric plants, and solar plants with a total installed capacity of approximately 8,000 megawatts in 10 states of Brazil. It is also involved in the telecommunications and energy solutions consulting businesses; exploitation of natural gas; sale and trading of electricity; and acquisition, transport, and distribution of gas and its subproducts and derivatives, as well as provision of technology systems and systems for operational management of public service concessions, including companies operating in electricity, gas, water and sewerage, and other utility companies. The company was founded in 1952 and is headquartered in Belo Horizonte, Brazil.