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Credit Suisse Raises PT to $36 on Kinder Morgan

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Credit Suisse raises its price target $4 to $36 on Neutral-rated Kinder Morgan (NYSE: KMI) following updates on the company's merger with El Paso.

Credit Suisse says, "On 15th March, Kinder Morgan, Inc. (KMI) announced a tentative agreement with the Federal Trade Commission (FTC) concerning KMP's proposed divestiture of assets to receive regulatory approval for its merger with EP. These assets maybe sold as one package and include: 1) Kinder Morgan Interstate Gas Transmission, 2) Trailblazer Pipeline Company, 3) Casper-Douglas natural gas processing facility, 4) West Frenchie Draw treating facility, and 5) its 50% interest in the Rockies Express Pipeline. We estimate that these assets combined generate EBITDA in the range of $383mm to $435mm."

KMI closed at $36.85 a share on Friday.

Posted-In: Credit SuisseAnalyst Color Price Target Reiteration Intraday Update Analyst Ratings

 

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