JMP Securities analyst Brian McKenna raised the firm’s price target on FTAI Infrastructure (FIP) to $12 from $11 and keeps an Outperform rating on the shares. The firm sees positive read-throughs from Blackstone’s (BX) earnings call, and believes FTAI owns an extremely valuable asset with the power plant at Long Ridge, and could end up creating hundreds of millions of dollars of value for shareholders, which would create additional flexibility around refinancing the balance sheet and ultimately redeploying capital into more durable businesses, the analyst says.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FIP:
- FTAI Infrastructure Inc. Announces Timing of Second Quarter 2024 Earnings and Conference Call
- FTAI Infrastructure initiated with an Outperform at JMP Securities
- Jefferson Energy, Aramco Trading Americas Execute Agreement for Bi-Directional Flow on Jefferson Southern Star Pipeline; Will Provide Access from Marketlink Pipeline to Jefferson Energy’s Beaumont Terminal
- FTAI Infrastructure price target raised to $11 from $10 at BTIG