Loading...
Loading...
In a report published Monday, Citigroup reiterated its Neutral rating and $34.00 price target on Brookfield Infrastructure Partners
BIP.
Citigroup noted, “We spent time on the road last week with BIP CFO John Stinebaugh & SVP of Energy, Ken Brandes. This marks our first investor trip with the company since launching coverage in June. In our opinion, reception to the BIP story was positive given the company's diversified asset mix and expected near-term distribution growth, towards the high end of the 3-7% guidance range...Our target price is based on a 2013 estimated distribution of $1.66 per unit and a 4.93% implied target yield. Our target yield is derived from BIP's historical average spread to the US 10-year Treasury. We estimate an average 10-year yield of 1.88% in 2013, an average of the 1-year forward 10-YR yield.”
Brookfield Infrastructure Partners closed on Friday at $35.09.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in