In a report released yesterday, Devin Dodge from BMO Capital maintained a Buy rating on Brookfield Infrastructure, with a price target of $42.00.
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Devin Dodge’s rating is based on several compelling factors that highlight Brookfield Infrastructure’s growth potential. The company is experiencing strong organic growth trends across its portfolio, which are expected to become more apparent in the coming quarters. This growth is anticipated to positively impact both distribution growth and valuation, making BIP an attractive investment. Additionally, the easing of previous headwinds such as foreign exchange and rising interest rates is expected to allow for more visible growth in funds from operations per unit.
Furthermore, Brookfield Infrastructure is well-positioned to capitalize on significant investment opportunities, particularly in digital infrastructure. With an increasing number of high-growth platforms and a robust development pipeline, the company is poised for substantial growth. The ongoing capital recycling efforts are also noteworthy, providing Brookfield Infrastructure with significant resources to invest in new opportunities while reducing reliance on capital markets. These factors combined suggest a positive outlook for BIP, justifying the Buy rating.
In another report released today, National Bank also upgraded the stock to a Buy with a $35.00 price target.
BIP’s price has also changed slightly for the past six months – from $30.140 to $31.530, which is a 4.61% increase.