BMOHe appears to be in the minority. Even more suprising is that all of his comments are positive and explain why this is the type of company you would want to own in a recession. GLTA
BMO’s Devin Dodge cut his Brookfield Infrastructure Partners LP target to US$41, below the US$43.86 average, from US$46 with an “outperform” rating.
“The majority of BIP’s investments have inflation-protected cash flows, there is limited direct risks from rising interest rates, and its businesses have proven to be resilient through the economic cycle. In the past, BIP has been adept at sourcing very attractive deals during periods of market dislocations, and we suspect similar opportunities could emerge over the next 12-24 months,” said Mr. Dodge.