TD Newcrest Resumes Coverage on Brookfield Infrastructure Partners (BIP) at Buy; Attractive Combination of Yield and Growth

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BIP Hot Sheet

Rating Summary:
1 Buy, 4 Hold, 0 Sell

Rating Trend: Down

Down

Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23

TD Newcrest resumes and transfers coverage on Brookfield Infrastructure Partners (NYSE: BIP) to Buy (from Hold). PT $29 (from $25).

TD analyst says, "We are attracted to BIP based on the following: High-quality Assets: BIP owns a portfolio of long-life infrastructure assets that enjoy high barriers to entry, generate stable cash flows, and require relatively minimal maintenance capital expenditure, in our opinion. BIP estimates that 80% of its EBITDA is underpinned by regulated or contractual revenues...Diversified Portfolio with Three Flagship Holdings: 1) Brookfield Rail; 2) Dalrymple Bay Coal Terminal (DBCT); and 3) Transelec Chile S.A. In general, BIP targets a return on equity of 12-15%...Attractive Combination of Yield and Growth: The units offer a 6% yield and BIP aims to grow the distribution 3-7% per year by paying out 60-70% of funds from operations (FFO)."

For more ratings news on Brookfield Infrastructure Partners click here and for the rating history of Brookfield Infrastructure Partners click here.

Shares of Brookfield Infrastructure Partners closed at $25.22 yesterday, with a 52 week range of $20.15-$28.00.

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