Kinder Morgan's 'Core Business Is Robust Now,' BofA Upgrades Stock
Portfolio Pulse from Vandana Singh
BofA Securities has upgraded Kinder Morgan (KMI) to a Buy rating, citing a robust core business and potential growth in natural gas pipelines. The company is well-positioned for long-term growth due to increasing demand from Gulf Coast LNG projects and electrification. The price target is raised to $27.
October 11, 2024 | 4:58 pm
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POSITIVE IMPACT
BofA Securities upgraded Kinder Morgan to a Buy rating with a new price target of $27, citing a robust core business and growth potential in natural gas pipelines.
The upgrade from Neutral to Buy by BofA, along with a raised price target, indicates positive sentiment and expected stock price appreciation. The robust core business and growth potential in natural gas pipelines are key factors.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
Kinder Morgan's ability to supply gas to utilities is compared to Williams Companies, highlighting the strength of its natural gas pipeline business.
While WMB is mentioned as a comparison, the primary focus is on KMI's business. The mention does not directly impact WMB's stock price but highlights industry dynamics.
CONFIDENCE 80
IMPORTANCE 40
RELEVANCE 30