Target Raised Seeing “good stuff brewing” following Brookfield Infrastructure Partners LP’s (BIP-N, BIP.UN-T) in-line results for its fourth quarter of fiscal 2023, Raymond James’ Frederic Bastien raised his target to US$44 from US$40 with a “strong buy” rating. The average is US$37.05.
“We reaffirm our Strong Buy rating on Brookfield Infrastructure as we expect the easing interest rate environment to revive investor interest in yield and growth-oriented companies,” said Mr. Bastien. “BIP stands out from the pack because of its scale, global footprint, financial strength, and track record. We believe these advantages will help management arbitrage varying economic circumstances to buy and sell assets for attractive valuations, compounding shareholder return in the process.”