BMO Raise Target Seeing an “attractive setup for 2024,” BMO’s Devin Dodge increased his target for Brookfield Infrastructure Partners LP to US$40 from US$38 with an “outperform” rating. The average is US$37.59.
“In our view, BIP offers a compelling risk/reward underpinned by double-digit FFO/unit growth, attractive yield, and a robust acquisition pipeline, as well as a potential rerating opportunity,” said Mr. Dodge. “Capital recycling is needed to fund new investment activity, but we believe BIP has several processes underway that could bring back substantial proceeds. BIP is one of our top 3 ideas for 2024.”