RBC Capital analyst Elvira Scotto raised the firm’s price target on Kinder Morgan to $24 from $22 and keeps a Sector Perform rating on the shares as part of a broader research note previewing Q3 results for U.S. Midstream names. The firm is updating its models to reflect shifts in commodity prices, hurricane impact, and dry gas production weakness, adding that it expects most companies to maintain 2024 outlooks, the analyst tells investors in a research note. For the company, RBC warns that near-term headwinds around low natural gas prices may offset long-term datacenter/AI related growth.
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