Keel Infrastructure price target raised to $8 from $5 at Alliance Global

Alliance Global analyst Brian Kinstlinger raised the firm’s price target on Keel Infrastructure (KEEL) to $8 from $5 and keeps a Buy rating on the shares. The firm notes the company is in the process of receiving the necessary permits to move forward with its three primary HPC/AI projects/sites that total 478 MW, with opportunities to expand. Alliance Global also highlights that Keel owns premium sites with scale and proximity to metropolitan cities, and that management expects by mid- to late-summer it should achieve full permitting at one, if not all three sites. With a shortage of power for HPC/AI, demand is not the problem, and the firm expects that after permitting, the company will finalize leases as the sites will be de-risked and the economics therefore will be better for Keel.