UPDATE: Citigroup Initiates Brookfield Infrastructure Partners with Neutral, $34 PT; Valuation Full
Citigroup initiates its coverage on Brookfield Infrastructure Partners (NYSE: BIP) with a Neutral rating and a price target of $34.
Citigroup says, "Shares appear fully valued at current levels (based on our implied target yield estimate) despite a generally risk-averse (80% of cash flow from regulated businesses or long-term contracts) and diversified business model (across industries & geographic locations)."
BIP closed at $33.52 on Wednesday.
Latest Ratings for BIP
|Nov 2013||BMO Capital||Maintains||Outperform|
|Jun 2013||BMO Capital||Maintains||Outperform|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.