Kinder Morgan price target raised to $33 from $30 at Wells Fargo

Wells Fargo raised the firm’s price target on Kinder Morgan (KMI) to $33 from $30 and keeps an Overweight rating on the shares following an in-line Q4. While early, Kinder Morgan seems to be tracking ahead of its 2025 budget, the firm says. The company reached FID on Trident. Capex run-rate is now $2.5B/year and could go higher given Kinder Morgan’s opportunity set, Wells adds.