BofA analyst Neel Mitra upgraded Kinder Morgan to Buy from Neutral with a price target of $27, up from $23. Given uncertainty about energy, the firm sees value in contracted natural gas pipe companies and given demand pull from Gulf Coast LNG projects and AI/utility electrification, the firm argues that Kinder stands to benefit from contracted long-term growth. The base business has stabilized with the higher multiple natural gas pipe business offsetting lower multiple CO2/product pipe declines, while Kinder has proven it can source gas to utilities, notes the analyst, who increased estimates through FY26.
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Read More on KMI:
- Kinder Morgan upgraded to Buy from Neutral at BofA
- Kinder Morgan upgraded to Equal Weight from Underweight at Morgan Stanley
- Kinder Morgan price target raised to $22 from $21 at Barclays
- Kinder Morgan price target raised to $25 from $24 at UBS
- Kinder Morgan put volume heavy and directionally bearish
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