Credit Suisse Reinstates Brookfield Infrastructure Partners (BIP) at Outperform
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Credit Suisse reinstates coverage on Brookfield Infrastructure Partners (NYSE: BIP) with a Outperform rating and a price target of $59.00.
Analyst A. M. Kuske commented, "We reinstate Brookfield Infrastructure Partners LP coverage with an Outperform rating and a US$59.00 target price. In our view, the Street underestimates the underlying organic growth from BIP's existing asset base along with increasing network benefits. This baseline growth is often overlooked given BIP's abundant M&A opportunities. Importantly, BIP's unique funding model allows for ample opportunity to deliver outsized M&A. Most notably, we regard the current M&A environment as being extremely favourable and one that may create significant incremental value as some of Brookfield's past transactions."
Shares of Brookfield Infrastructure Partners closed at $48.87 yesterday.
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