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Brookfield Infrastructure Partners price target raised to $41 from $40 at CIBC

CIBC raised the firm’s price target on Brookfield Infrastructure Partners (BIP) to $41 from $40 and keeps an Outperformer rating on the shares. The firm views the acquisition of rail equipment lease portfolios from Wells Fargo (WFC) as a nice value-based investment, with downside protection and a reliable operating partner. While not material in isolation, when combined with recent transaction activity, this development causes CIBC to bump its DCF-based price target. The firm views the pickup in transaction activity as a positive for the units.

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