TD TD Securities’ Cherilyn Radbourne lowered her Brookfield Infrastructure Partners L.P. (BIP-N, BIP.UN-T) target to US$45 from US$50, keeping a “buy” recommendation. The average is US$41.
“We believe that at current levels, BIP offers a compelling combination of yield (6.5 per cent plus) plus high-single-digit to low-double-digit FFO/unit growth, consistent with its long-term track-record (10-year FFO/unit CAGR of 11 per cent during 2012-2022),” she said.