UPDATE: Goldman Sachs Reinstates Kinder Morgan at Buy on Growth and Stability
Goldman Sachs reinstates Kinder Morgan (NYSE: KMI) with a Buy rating and a price target of $37 following a Not-Rated period on shares.
Goldman Sachs says, "Strategically, we have a long-term positive view on KMI's shift toward natural gas via the El Paso acquisition, driven by industrial, power generation, and LNG export growth, and although near-term gas infrastructure opportunities are more muted, its Marcellus position remains attractive."
Kinder Morgan has come down quite a bit from its early April high of 40.25, which was on the heels of the company's El Paso (NYSE: EPB) acquisition. Shares closed at $31.47 on Thursday.
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