Jefferies lowered the firm’s price target on Kinder Morgan (KMI) to $29 from $30 and keeps a Hold rating on the shares. The firm sees the company’s new gas projects as the “clearest catalyst” for the stock in fiscal 2026 and beyond. However, it may take more time for commercialization to materialize given the projects’ long-cycle nature, the analyst tells investors in a research note. Jefferies does not expect an upside surprise when Kinder Morgan reports Q4 results.
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