Stifel Downgrades Kinder Morgan (KMI) to Hold
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Stifel analyst Selman Akyol downgraded Kinder Morgan (NYSE: KMI) from Buy to Hold with a price target of $18.00.
The analyst commented, "At this time, we are lowering our rating for KMI to Hold from Buy. Our rating change is driven by KMI’s share price exceeding our target price. Currently, KMI is trading at 11.2x our FY22 EBITDA estimate of $6.9 billion compared to our target multiple of 11.0x. We continue to favor KMI’s diverse assets, natural gas footprint and the potential for possible ESG initiatives through its CO2 segment. That said, KMI's shares have increased by ~40% YTD, and we view the stock as fairly valued."
Shares of Kinder Morgan closed at $18.84 yesterday.
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