Goldman Sachs Upgrades Kinder Morgan (KMI) to Conviction Buy

October 4, 2011 7:08 AM EDT
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Price: $22.55 +0.58%

Rating Summary:
    17 Buy, 5 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 11
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Goldman Sachs upgraded Kinder Morgan (NYSE: KMI) to the Conviction Buy List with a price target of $32, suggesting 26% upside.

The firm said the valuation "does not reflect its attractive combination of "yield plus growth" and sector-best diversification.

KMI's cash flow is driven by fee-based pipelines/storage assets, with geographic breadth and product range, the firm notes. "Cash flow stability and moderate commodity price exposure will be welcomed by income-oriented investors in a slower growth macro environment." The analyst also sees multiple sources of upside to earnings, both organically and through acquisitions.

For more ratings news on Kinder Morgan click here and for the rating history of Kinder Morgan click here.

Shares of Kinder Morgan closed at $25.48 yesterday.

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