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Analysts at RBC Capital Markets have raised the price target for Brookfield Infrastructure Partners L.P. (NYSE: BIP). The price target has been raised from $16 to $17.
The company reported ANOI/unit of $0.24 for the fourth-quarter, which came in ahead of analysts’ estimate of $0.20. According to analysts, the increase in annual distribution from $1.06/unit to $1.10/unit was a surprise move.
Analysts have reduced their ANOI forecasts slightly. Analysts now estimate ANOI/unit of $1.74 in 2010, and $2.02 in 2011.
According to analysts, the units are fairly valued at current levels. Analysts at RBC Capital Markets have maintained a Sector Perform rating for Brookfield Infrastructure Partners L.P.