Bank of America Securities analyst Jean Ann Salisbury has maintained their bullish stance on KMI stock, giving a Buy rating yesterday.
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Jean Ann Salisbury’s rating is based on several strategic factors that position Kinder Morgan favorably in the market. The company is poised to benefit from the upcoming need for additional gas pipeline capacity, as most existing pipelines are already operating at full capacity. This situation is expected to lead to higher rates for new capacity, which could enhance Kinder Morgan’s revenue potential.
Furthermore, regulatory improvements are anticipated to streamline pipeline approval processes, potentially reducing project timelines and costs. Kinder Morgan’s significant involvement in the LNG sector, touching 45% of LNG exports, positions it well to capitalize on the expected increase in pipeline contracts following recent LNG project approvals. Additionally, the company’s growth is supported by a substantial capital expenditure backlog, which is projected to drive EBITDA growth in the coming years. These factors collectively underpin the Buy rating for Kinder Morgan’s stock.
According to TipRanks, Ann Salisbury is a 4-star analyst with an average return of 11.5% and a 56.82% success rate. Ann Salisbury covers the Energy sector, focusing on stocks such as Exxon Mobil, Kinder Morgan, and Marathon Petroleum.
In another report released yesterday, UBS also reiterated a Buy rating on the stock with a $38.00 price target.