Kinder Morgan upgraded to Overweight from Equal Weight at Barclays

Barclays upgraded Kinder Morgan (KMI) to Overweight from Equal Weight with an unchanged price target of $31. The company “stands at the nexus of multiple structural tailwinds,” benefiting its core infrastructure assets across natural gas and liquids products, the analyst tells investors in a research note. The firm says Kinder is positioned to benefit from a “constructive” fundamental outlook for natural gas, with critical infrastructure assets largely backed by take-or-pay/fee-based contracts across multiple commodity value chains and regions. It views the stock’s current valuation as compelling.