BTIG Starts FTAI Infrastructure (FIP) at Buy

BTIG analyst Gregory Lewis initiates coverage on FTAI Infrastructure (NASDAQ: FIP) with a Buy rating and a price target of $10.00.

The analyst comments "We are initiating coverage of FTAI Infrastructure (FIP) with a Buy rating and a $10 PT. FIP owns a diversified portfolio of US infrastructure assets, including rail, power generation, and oil & gas terminals. The strategy is simple: invest in hard assets that can provide sustainable cash flows but also offer the potential for expansion. Also key to the strategy is the ability to monetize assets as it did with its Long Ridge power and gas terminal when it sold a 50% interest in the project in 2019, with the company eventually reinvesting the proceeds. Bottom line: we expect FIP to continue to look to opportunistically buy (thinking rail for now) and sell (existing energy assets) within its asset portfolio as it seeks to maximize return on capital. Additionally, with the bulk of its existing projects' CAPEX out of the way, we expect FIP to focus on expanding cash flows at its Jefferson oil terminal, Long Ridge, and Repauno natural gas liquids (NGL) terminal. We initiate with a Buy rating and $10 PT."

For an analyst ratings summary and ratings history on FTAI Infrastructure click here. For more ratings news on FTAI Infrastructure click here.

Shares of FTAI Infrastructure closed at $6.55 yesterday.

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