UPDATE: BMO Capital Markets Reiterates Outperform Rating, Lowers PT on Brookfield Infrastructure Partners LP Following Timber Assets Sale

In a report published Monday, BMO Capital Markets analyst Bert Powell reiterated an Outperform rating on Brookfield Infrastructure Partners LP BIP, but lowered the price target from $43.00 to $42.00. In the report, BMO Capital Markets noted, “We believe this will be another strong year for Brookfield Infrastructure in terms of acquisition opportunities. The sale of the timber assets is consistent with the strategy. The $800 million proceeds from recent asset sales and equity issue, in addition to liquidity of $1.2 billion at the end of Q1/13, should result in cash to fund acquisitions of about $2 billion, if our tax estimate is correct. We continue to like BIP's prospects.” Brookfield Infrastructure Partners LP closed on Friday at $36.08.